AUD/USD rallied overnight through recent highs but has been capped ahead of congestion at 0.7180. Risk returns, supporting Aussie upside Risk was back on at the start of this week, despite China returning and the Japan GDP 2015 Q4 a good miss. Either way, the Nikkei rallied 7% and the SHCOMP was only down 0.6%. Gold suffered heavy losses from $1,240, but holds the psychological $1,2000 support with a low of $1,201 so far. "PBoC Governor Zhou's interview in Caixin Magazine on Saturday helped set the scene, with his comments helping to diffuse fears around China's balance of payments and capital outflows. The +0.3% firmer CNY fix, the +1.2% advance in the CNY (the largest in a decade), and relatively flat Shanghai equities were all risk-positive developments," explained analyst at TD Securities. We have the RBA minutes today although we are unlikely to get anything more than what we have been fed already this year by a number of speeches fro the Central Bank already. However, the jobs numbers are eagerly awaited this week given how the importance of this sector of the economy is to the RBA. Also, we have the FOMC minutes later on in the week. AUD/USD levels Technically, AUD/USD exceeded previous highs of 0.7153 and scored a high of 0.7171. To the downside, the pair is testing the 20 sma on the hourly chart at 0.7142 and looks to the 100 sma on the same time frame at 0.7097. A break there opens up S1 at 0.7068, S2 at 0.7050 and S3 at 0.7032. To the upside, R1 is at 0.7134, R2 is at 0.7152 and R3 is at 0.7170. For more information, read our latest forex news.