Sasha Singh
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AUDUSD : Bullish Reversal May Occur

(AUDUSD : 4 Hour Chart)

AUDUSD is currently testing support at .9329 which was earlier acting as resistance for the pair. The 100 day SMA just crossed above the 200 day SMA signaling that the pair might continue to move upward. The pair should rise from current support level however the gains are limited as the falling resistance trend line will pull the pair down again towards the support. Also seems like there is a rising support trend line on the chart which the pair is currently testing. On the Stochastic Oscillator also the pair is currently in the oversold zone so the downside seems limited. Overall the trend currently seems uptrend and the pair should breakout from the falling resistance trend line on the pair.