AUDUSD is overal bearish and we can see on ym cheat have I have a descending channel which touch the top of the trend line many times creating HL's and also touching the bottom trend line creating LL'S also/
Within the channel we have also have a minor trend (GREEN LINE) breaking to to the upside and now price is retracing back down. If we can see a break below 0.72290 I would expect price to rally back down creating to creating a new LL in the near future.