EUR/USD just touched above and USD/CAD is at a session low of 0.9943 but AUD/USD is not a part of the ‘risk on’ rally. A fall below 1.0745 would be a negative technical signal.
The culprit is EUR/AUD which has been absolutely loaded with speculative shorts since the break of 1.29. They are getting squeezed at the moment.
A rise above 1.2291 would create a nice reversal pattern on the daily chart.
