For those , who did not check my earlier chart, Check my previous post here !
As I mentioned in the previous posts, rally of Australian dollar across the board is most expected, and little correction and another shift in momentum is seen, And this time it is with even more force. If you see the current rally from the lows, then it has bounced from 0.9320 areas which was mentioned as extreme support and now again after ending the week on lows, price accumulates enough, and today there is rotation center violation which is good enough for us to reenter After price open up with the gap to the downside and then a little upside rally after opening, which was not very strong but you can see "Shift in value" on hourly chart and then spike after the release of Chinese manufacturing PMI which tells us that there was a strong improvement as PMI has crossed the level of 50.0 and above 50 there is strong improvement after months below the 50.0 Mark. So, there is always a mixture of fundamentals and technicals, which make us flexible trader, because alone technicals are not helpful fundamentals has to be supportive in every course, to support the rallies, and Price if breaks the highs with force, then there is strong test of 0.9510 area could be seen, and after that 0.9570 and 0.9630 aera. I would always support risky asset class as Crisis situations as war in Iraq is picking up and this force Institutions to buy Gold and Riskier asset class like austrlaian, canadian and newzealand dollar, which always works as safe heaven in risky events As we have earlier seen, buying of canadian dollar last Friday, So, it could be turn of Austrlaian dollar as well.
