AUDUSD remains in the downtrend from 0.8135 and the price action from 0.7202 is likely consolidation for the downtrend.

As long as the price is below the falling trend line on the daily chart, the downside movement could be expected to resume and a breakdown below 0.7202 support could trigger another fall towards 0.7000.

The key resistance is at 0.7483, only a break of this level could signal completion of the downtrend.