A flight into risk?
USDCAD has fallen. Oil is up. AUDUSD has risen. US equities are trading at the highs.
Technically for the AUDUSD, the pair had fallen quite sharply in Asian Pacific and into the European session. The low bottomed at 0.7144 – there is nothing special about the level. Looking at the daily chart above the pair spent from September to March below 0.73848. Earlier this month the price reentered this area on May 6th and has not closed back above the upper extreme (there was one failed break).