AUD/CHF technical analysis summary
Buy Stop: Above 0.668
Stop Loss: Below 0.64
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| MA(200) | Neutral |
| Fractals | Neutral |
| Parabolic SAR | Buy |
| Bollinger Bands | Neutral |
AUD/CHF chart analysis
On the daily timeframe, AUDCHF: D1 approached the downtrend resistance line. It must be broken upward before opening a position. A number of technical analysis indicators have formed signals for further growth. We do not exclude a bullish movement if AUDCHF rises above the last upper fractal: 0.668. This level can be used as an entry point. The initial risk limitation is possible below the Parabolic signal, the low since October 2020 and the last down fractal: 0.64. After opening a pending order, move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders, after making a deal, can go to the four-hour chart and set a stop-loss, moving it in the direction of movement. If the price overcomes the stop level (0.64) without activating the order (0.668), it is recommended to delete the order: there are internal changes in the market that were not taken into account.
Fundamental analysis of forex – AUD/CHF
Investors welcomed the Reserve Bank of Australia (RBA) Meeting Minutes. Will the AUDCHF quotes continue to grow?
The RBA Minutes noted the possibility of a rate hike when the actual inflation rate is stable in the range of 2% to 3%. In the 3rd quarter of 2021, the Australia Consumer Price Index rose 3% year over year. The Reserve Bank of Australia (RBA) Weighted Median Consumer Price Index climbed 2.1%. Investors are counting on an early rate hike. An additional positive was the RBA's plans to complete its asset repurchase (QE) program in February 2022, in case of good economic performance. He had previously planned to do so in May. An additional positive for the AUDCHF currency pair may be the announcement of the pharmaceutical company Moderna about the creation of a vaccine against the Omicron coronavirus. This could reduce investor interest in the Swiss franc as a defensive asset. The RBA rate is + 0.1%. Swiss National Bank (SNB) rate is negative -0.75%.
Want to get more free analytics? Open Demo Account now to get daily news and analytical materials.
This overview has an informative character and is not financial advice or a recommendation. IFCMarkets. Corp. under any circumstances is not liable for any action taken by someone else after reading this article.
Recommended Content
Editors’ Picks
AUD/USD remained bid above 0.6500
AUD/USD extended further its bullish performance, advancing for the fourth session in a row on Thursday, although a sustainable breakout of the key 200-day SMA at 0.6526 still remain elusive.
EUR/USD faces a minor resistance near at 1.0750
EUR/USD quickly left behind Wednesday’s small downtick and resumed its uptrend north of 1.0700 the figure, always on the back of the persistent sell-off in the US Dollar ahead of key PCE data on Friday.
Gold holds around $2,330 after dismal US data
Gold fell below $2,320 in the early American session as US yields shot higher after the data showed a significant increase in the US GDP price deflator in Q1. With safe-haven flows dominating the markets, however, XAU/USD reversed its direction and rose above $2,340.
Bitcoin price continues to get rejected from $65K resistance as SEC delays decision on spot BTC ETF options
Bitcoin (BTC) price has markets in disarray, provoking a broader market crash as it slumped to the $62,000 range on Thursday. Meanwhile, reverberations from spot BTC exchange-traded funds (ETFs) continue to influence the market.
US economy: slower growth with stronger inflation
The dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.