AUDUSD deflating?

AU ran up over 300 pips in 3 weeks on the sentiment that the RBA would be tapering its bond purchases in the near term. At the rate decision of Sept 7 Lowe states that bond purchases at 4 billion per week will continue until "at least" Feb. 2022. The statement also repeats previous statements that there will be no rate increases until 2024 contingent upon a sustained improvement in employment and inflation in the 2–3% range. The pair should be bearish near term.

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Perhaps something like this.

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AU has dropped below the 3/8 line so continuation may be to around the 70% line at 0.7218

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It's either reversing or we're about to see some 0.71s. Probability is with the latter.