China has recently been downgraded by Moodys. This should see AUD weaken. Why it didn't right away is beyond me...
Anyways, AUDUSD has retraced. USD is strong than AUD. AUD has a had weaker data recently, and the USD should strengthen a bit into the FOMC minutes. There are some large options expiring today at the .7500 and .7420 levels, this is something to keep in mind.