Your Examination Mark does not get reduced/affected in a way to "align" with your internal rank. That would be unfair as it would likely reduce your HSC mark (final mark) for English. Your Examination Mark is the result of your own performance in the English HSC exam and is subject to the process of alignment. It is not affected by factors such as your rank relative to your cohort or your school rank.
Considering that your internal performance (i.e. your performance in your school-based assessment tasks/exams) has somewhat deteriorated due to unfavourable performance in your online trial exam, your final rank will be negatively impacted by this, which could result in a potentially lower Assessment Mark than what would have otherwise been achievable had you performed better in your trial exam, which would have in turn possibly resulted in a higher rank.
To answer your question, your Assessment Mark will be moderated using the Examination Mark that is equivalent to your rank. In the case of ranks other than first/last, your Assessment Mark will not be made equal to its equivalent Examination Mark, although it will end up being similar. Assuming that you end up performing better in the HSC exam than you did in your school-based assessment tasks/exams, it is unlikely that your Assessment Mark will be adjusted using your own Examination Mark. Instead, it would be used to determine the Assessment Mark of another student who likely ranked higher than you internally.
I hope this helps!