The aussie is consolidating within a strong down-trend. The current pull-back is extending and will probably rise up to the down-sloping trend-line drawn from the Autumn 2014 highs at 0.7790.
At that level resistance from the trend-line is expected to cause prices to roll-over and eventually resume their down-trend. A break below the 0.7559 lows would probably confirm a continuation lower to the next support layer at 0.7491 – provided by the S2 monthly pivot.
Although the pull-back is strong and could be the beginning of a reversal its still too early to say, so the down-trend remains intact and in force.