The AUD/USD rallied above last week’s 1.0683 range resistance before setting up 1.0750 area as the next range resistance, which was broken to the upside after the better than expected Non-Farm Payroll data from the US. This week, the market fails to sustain the rally, falling back to 1.0683 to test as support again. The 1H chart shows that the market is basically consolidating and respecting 1.0683. It is trading above the 200-hour simple moving average (which has recently been acting as support). The 1H RSI reading has been maintained above 40 and able to kiss 70, reflecting persistent bullish momentum. However the ... (full story)