AUD/CHF chart - Trading View
- AUD/CHF trades 0.66% lower on the day at 0.7065 at 0730 GMT, bias bearish.
- The pair was rejected at 20-DMA and technical studies support downside.
- Aussie dented across the board on poor data and dovish comments from RBA Governor Philip Lowe.
- Markets focus on Thursday’s Australian trade balance and retail sales data for further impetus.
- Also, sentiment based on the US-China trade deal developments will continue to affect price movements.
- We see scope for weakness till daily cloud. Break below cloud could drag the pair till 0.6958 (Jan 10 low). Bearish invalidation only above 200-DMA.
Support levels - 0.7023 (38.2% Fib), 0.6958 (Jan 10 low), 0.69
Resistance levels - 0.7081 (5-DMA), 0.7130 (50% Fib), 0.7185 (200-DMA)
Call update: Our previous call (https://www.econotimes.com/FxWirePro-AUD-CHF-fails-at-200-DMA-good-to-stay-short-on-rallies-1504703) has hit TP1.
Recommendation: Book partial profits at lows, stay short for further weakness.
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
