AUD/USD has surged to a technical level where it’s done plenty of work around in the past, providing an opportunity for traders to establish trades with excellent risk-reward potential. With declining US bond yields suffocating the US dollar rally, directional risks appear slanted to the upside unless we get another hot nonfarm payrolls report later in the session. On the charts, AUD/USD has been respectful of existing levels during the week, testing uptrend support on Wednesday following a soft Australian GDP report and disappointment over the details provided at China National People’s Congress before rebounding to ... (full story)