PURELY , MACRO INFLUENCES CAN BE ALSO ADDED TO HELP REFINE THE PICTURE FURTHER. NOT ADDED IN THE EXAMPLE.
MONTHLY LEVELS AND LINES ARE RED
WEEKLY LEVELS AND LINES ARE BLUE
DAILY LEVELS AND LINES ARE ORANGE
Of recent times the TARIFFS that have been imposed by the US, have not been applied to Australia. As a commodity based economy, the rally in price is the market pricing in the advantage Australia now has over other economies around the world.
So the rally we are seeing is a MACRO influence and as the announcement was sudden you see the dramatic move in the AUSSIE dollar.