AUDUSD stays in a downward price channel on 4-hour chart, and remains in downtrend from 0.9461, the rise from 0.9227 would possibly be consolidation of the downtrend. Further decline is still possible after consolidation, and next target would be at 0.9180 area. Key resistance is at 0.9316, only break above this level will indicate that the downtrend from 0.9461 had completed at 0.9227 already then the following upward movement could bring price to 0.9550 – 0.9600 area.
