Looking at the AUD/USD daily chart, it appears bulls have run out of steam. AUD/USD's rally was fueled by the equity market bulls. Massive USD injection in the market by the Feds also led to a decrease in USD demand.
However, equity markets have started dropping once again and that is clearly reflecting in AUD/USD's price action.
A strong break below the lower TL would lead to a sell-off in AUD/USD very soon. Selling the rallies is my preferred approach to trade AUD/USD