Similarly to some other crosses the Aussie has been consolidating under par to the US Dollar. The end of the year rally ultimately failed to take out the previous high. The subsequent sell off stalled at the 61,8% fibonacci retracement. The chart pattern suggests a substantial move is coming very soon. A break below 0,9810 would increase the risk of an extension toward 0,96-0,9620 (1:1 extension) level and perhaps even lower toward 0,9340 (1,618 extension). Recent sell off in metals, crude oil and gold is aussie negative and favors a break downwards. If you want to play this break using options I suggest buying 2 week 0,9735 puts for 35 pips.