The AUD has taken back all its loses since the 22 January overnight bouncing back to $0.8025 against the USD after disappointing numbers were posted during the FOMC meeting on the 29th of April 2015.
Most importantly US GDP data well under-performed on expectations and the Feds made no mention of a rate cut or timelines on such.
The AUD has most importantly made a psychological breach past the 0.80 mark against the USD and is now fluttering around the area. For most technical traders who have been short on the AUD with or without leverage there is a clear momentum leading to the closure of tons of positions on a rethink of what 2015 is actually going to look end like.
It is also likely now that the RBA and Governor Glenn Stevens must revisit the prior meeting minutes as the AUD must be held down to see continued resources and real estate sector growth in Australia.