Does the Foreign Earned Income Exclusion apply if I live in the US but am paid by a foreign company?

Hi all,

 

Does the Foreign Earned Income Exclusion apply if I live full time in the US but am paid by a foreign company? Let me explain further...

 

I am a dual citizen (American and Australian). I do part time work for an Austrailian company. I have not lived in Australia for years nor do I plan to while conducting this remote work. 

 

The company has offered to pay me on payroll into my Australian bank account or asked for me to invoice them if I want to be paid into my US account. Does the Foreign Earned Income Exclusion apply at all? I am debating which would be the better option to be paid and tax implications. 

 

Thanks in advanced.