AUD/USD: sharp spike on dollar weakness, Trump's plans for Fed chair are?

Currently, AUD/USD is trading at 0.7853, up 0.24% on the day, having posted a daily high at 0.7865 and low at 0.7830.

AUD/USD has rallied in the open of the Tokyo session to the highest levels since 27th September. There was little catalyst for the move straight off the vat, but soon after came headlines via Bloomberg that Trump said Yellen is only a consideration.

AUD/NZD: a retest of the 1.12 handle is possible if...? - Westpac

This is on the back of earlier reports that Fed's Powell, who pulled even with Warsh in betting markets for the next Fed chairperson, could be seen as possibly more ideologically aligned with the Trump administration's fiscal plans, known for advocating for easy rates and reducing bank regulations. This equated to lower US yields overnight as well. 

AUD/USD 1 day: 

Analysts at Westpac explained that the Aussie survived a test of 0.7800 yesterday, a period of consolidation between 0.7800 and 0.7900 expected.

AUD/USD 1-3 month: 

Longer term, the analysts explained that if the RBA remains firmly on hold, as they expect, and the US dollar rises on tighter Fed policy, then AUD/USD could fall to 0.76 by year end. 

Daily technicals are still suggesting that a bounce is due, with RSI diverges & a long-legged doji forming. There remains a daily cloud top here with an inverted hammer on the monthly charts. On a break below 0.7799, 0.7748/41 is where the February and March highs stand. On the short-term outlook in the 4-hr sticks, the price was developing below the 21 SMA at 0.7829 and the key resistance at 0.7840/50 that has just been broken. However, technicals remain neutral on the same chart.