The aussie has been consolidating in a sideways phase since making new lows on February 3. Eventually the pair is expected to break down out of the range and continue lower in line with the dominant trend.
Currently the exchange rate has extended its range so far sideways that it has met resistance from a down-ward sloping trend-line and this indicates a critical cross-roads may have been reached by the pair, with either a major move down about to happen or a breakout above the trend-line, which would signal a potential reversal of the dominant trend.
Today sees the release of Non-Farm Payrolls, which may have a major impact on currency volatility and the dilemma of the direction of the pair may be resolved.
A break below 0.7725 would probably confirm a continuation down to support at 0.7670, whilst a clear break below the Feb 3 lows at 0.7625 could confirm a continuation of the down-trend to a target at the key 0.7500 number.