AS I mentioned yesterday that we have got another trade location in Australian dollar around 0.9405 Area and that was strong "Violation of rotation center" After "Accumulation", Entry was offered around 0.9410 and I was looking to take my profit around 0.9440-50 area, And After the release of "Australian Employment Report", which was mixed with Unemployment rate rise after decent People were Employed and Market was all set to test the Supply and that area was good enough for us to book the profit as price come back to opening levels of the day.
Updated chart of Australian Dollar
According to my Analysis I always look to find pairs which are trending and have logic to reach or test certain supply demand zone as Price already priced up to behave in such manner.
That is the reason I never look for reversals too early Untill there is clear evidence that trend is mature and look to reverse or correct the earlier trend.
But Australian dollar has spend so much time near the highs, this and got rejected at the trend extremes It will probably correct deeper or reverse, So Now I have maintain my neutral Bias on the pair untill Price take the Highs with conviction and convince me to enter again.