Has the downtrend of AUD/CHF ended?

Has the downtrend of AUD/CHF ended?

2019-11-11 • Updated

On the daily chart of AUD/CHF, the pair reached the first crucial support at 0.6880. RSI and Stochastic Oscillator are in the oversold area. Awesome Oscillator formed a bullish divergence with the chart. As a result, we can anticipate a soon recovery of the pair. If bears are able to pull the pair down. The next important support will lie at 0.6830.

However, the odds of the rebound from 0.6880 are high. In the middle term, the main target for the pair is located at 0.7018. Nevertheless, before the pair reaches that level, we may see a correction near 0.6981 with a possible retest of 0.6880. To be sure in the trend reversal, it’s worth waiting until the pair breaks above the trendline near 0.6917.

Fundamental factors: on Thursday, investors will pay attention to the Australian jobs data. If the actual releases are more optimistic than forecasts, the AUD will be encouraged. In the case of the worse readings, the currency may suffer that will affect the direction of the pair. However, if the reversal of the trend is confirmed, the pair will recover. 

AUDCHFDaily1.png

Similar

Latest news

USD: Powell Speaks on Cutting Interest Rates
USD: Powell Speaks on Cutting Interest Rates

Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...

WTT: Currency Pairs To Trade In April
WTT: Currency Pairs To Trade In April

Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera