The Australian dollar is a commodity currency. The trend of the Australian dollar basically follows the price fluctuation of iron ore and copper mine, and another is the economy of China. The trend of the exchange rate of the Australian dollar against the US dollar in recent ten years is as follows (Source: Bloomberg):

The recent decline of the Australian dollar is also due to the rise of the US dollar. Because the United States started the interest rate hike cycle, the dollar rose, and the Australian dollar naturally fell against the dollar. Exchange rate changes are influenced by many factors. You can understand the changes in different stages.