Australian dollar possible short term upwards correction

Australian dollar possible short term upwards correction but are we going to see a continuation of the down trend?

The Australian dollar has been under pressure from a strong USDOLLAR and persistent weakening of monetary policy in the region. I'd expect to see some pullback here and see what happens as it could continue sharply lower as we have seen this year. If we continue making higher highs expect a quick return to the 0.695 where a test will be made a probably test the low again.