The US NFP report came in below the forecast of 215K and instead posted a 173K print for August. However, the previous reading, for July, was revised up to 245K from 215K. Also, the unemployment rate did slide to 5.1% from 5.3%. Furthermore, average hourly earnings grew 0.3% in August. The positives should make up for the underwhelming number of jobs created in August. The currency market seems to agree for the moment as the USD gained after the US jobs releases.USD Index 1H Chart 9/4(click to enlarge) The 1H chart shows that the USD was consolidating just ahead of the NFP release, but did have a slight bullish bias heading into the event risk. There was a whip-saw reaction at first, but as the dust settles, it appears that USD-bulls are winning. The 96.60 high is now under attack with good probability that it will break. Take a look at the daily chart:(click to enlarge)We can see that the USD has ben consolidating over the past few months, since March. Price structure looks like a falling triangle. Towards the end of August, when price bounced off 93.00, we saw a sharp, v-shape, reversal that is now threatening to test the triangle resistance. This consolidation to me represents the uncertainty of the FOMC in its rate hike outlook. If the USD were to break from this triangle, the market will need to have confidence that the FOMC will indeed raise rates by the end of 2015. The US NFP report today does nudge us towards an affirmative on that - which means, we might be building up for a medium-term USD-bull run.