Aud has held strong despite the historical low interest rates from the recent .25 cut by the RBA. Unlike its fellow antipodean Nzd which took a major hit while risk sentiment was percieved to be much higher to investors last month.The past 2 months Gold is up 5.4% feeding the risk off sentiment and also iron ore contracts up 39% on the year helping the commodity currency keep stable. Daily there's a tight range of $.7010(50ema) - $.7020 (76.4%) that was rejected but held an engulfing candle above the prev daily high and the 61.8% retracement. Weekly price finished above the 23.6% retracement after a doji signaling continuation upwards. Should price break the weekly 20ema/32.8% ($.7070) then there is optimism for bulls to to test the 1D 200ema around $.7160. Note Business Confidence and Employment change i expect to be weaker later in the week so will keep you updated.