FxWirePro: AUD/CHF Daily Outlook

Chart - Courtesy Trading View 

AUD/CHF was trading 0.22% higher on the day at 0.6630 at around 10:15 GMT.

The pair is showing a minor recovery after previous session's downside, but upside remains capped at 5-DMA.

Sour sentiment weighs on the Australian dollar, dragging the pair lower. Shanghai’s first coronavirus Omicron sub-variant BA-5 case escalated virus woes, keeping market sentiment depressed.

Mixed data from Australia and caution ahead of Thursday’s Aussie employment numbers also exert downside pressure.

National Australia Bank’s (NAB) Business Conditions rose to 13, versus 9 expected and prior 16.

Further, Australia Bank’s (NAB) Business Confidence dropped to 1 from 8 expected and 6 previous.

Focus now will be on Thursday’s Australia jobs report for June as RBA hawks appear running out of steam of late.

Downside in the pair has bounced off 200H MA support. 5-DMA is biased higher. MACD shows bullish crossover on signal line.

Major Support and Resistance Levels:

Support levels - 0.6603 (200H MA), Resistance levels - 0.6675 (21-EMA)

Summary: AUD/CHF finds stiff resistance at 21-EMA. Watchout for decisive break above for upside continuation.