Better than expected trade figures, a global rise in risk appetites, talk the RBA may be done easing and renewed hopes that China will lead the global economy out of recession and consume a lot of Australian raw materials along the way are helping fuel a big rally in AUD/USD today. Oz is approaching levels not since the early days of 2009 during another flight of reflation fancy. 0.7266 is major resistance on rebounds near-term.
The one negative to my eye today is a stark bearish divergence on the daily charts as the move through resistance at 0.7093 has not been confirmed by a rise to new highs in RSI.
