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AUD/USD - Double Top Forming after Tag of 0.93 and RBA Statement

Ahead of the RBA statement, AUD/USD had been bullish, but stalled at a projected channel resistance after tagging 0.93. 

After an unsurprising RBA statement, the AUD/USD cooled off from this channel resistance, and is forming a double top seen in the 4H chart.

(AUD/USD 4H chart 4/1)

A completion of the double top will be clear with a break below 0.9210. That would suggest at least some near-term bearish correction. The first level of possible support will be the previous resistance near 0.9135. 

There could be further downside risk within the context of a bullish market. Note that the 200-4H SMA has acted as supported 3 times. If the market pushes below this moving average, then we might be shifting from a bullish to neutral market.

A break below 0.90 might be needed to introduce a bearish market especially if it also breaks the previous low near 0.90, and the channel support.