Bearish channel on the EUR/AUD with EMA’s cross under

The EUR/AUD has continued making lower lows as we can see on the 4 hour chart and it has kept doing the breakout and pullback pattern on its way down. What we can see is that every time the price makes a lower low, price tends to pull back to the previous low, which usually becomes resistance. Therefore, it is possible to see a continuation to the down side, especially now that the 55 period exponential moving average (purple line) has crossed below the 200 period exponential moving average, indicating a possible continuation of the downtrend.