AUDUSD broke above the downward trend line on daily chart, indicating that consolidation for the downtrend from 0.9504 (Jul 1, 2014 high) is underway. Range trading between 0.6907 and 0.7439 would likely be seen over the next several weeks. As long as 0.7439 resistance holds, the downtrend could be expected to resume, and another fall towards 0.6500 is still possible.
