AUDUSD failed to break above the Ichimoku cloud and has been falling gradually from 0.7937 (the peak of March 24). This resistance level is where the 61.8% Fibonacci retracement lies (of the upleg from 0.6008 to 1.1078). A break below the multi-year low of 0.7559 would open the path towards 0.7088. This is the 78.6% Fibonacci retracement level.
AUDUSD maintains a bearish outlook. The pair has been making lower highs and lower lows since the peak of 0.9400 in September 2014. A fall below the tenkan-sen and kijun-sen lines has reinforced the bearish bias. Meanwhile the RSI has also fallen back below 50 into bearish territory.