• AUD/USD bears move in for the kill at 0.6850. 
• The bears eye the W-formation's neckline and a break of the trendline. 

AUD/USD is under pressure from a critical area on the hourly chart and the following illustrates the prospects of a break of the trendline:

The bears could move in during Tokyo as the price meets 0.6850 but there is still room to go on the upside as well. However, the W-formation is a reversion pattern and if the price were to move into the neckline, that could be a significant development as the trend would come undone as per the break of the trendline support. 

AUD/USD 15-min chart

For the immediate future, the price has an area of imbalance near 0.6835 that could be mitigated in the coming hours on the 15-min chart. 

As illustrated, the price has moved in on the trendline but so far it is holding up.