Buy Stop: Above 0,686
Stop Loss: Below 0,663
AUD/CHF Chart Analysis
AUD/CHF Technical Analysis
On the daily timeframe, AUDCHF: D1 broke up the downtrend resistance line and exited the inverted Head & Shoulders pattern. A number of technical analysis indicators have generated signals for further growth. We do not rule out a bullish movement if AUDCHF rises above its latest high, 200-day moving average and upper Bollinger band: 0.686. This level can be used as an entry point. The initial risk limitation is possible below the Parabolic signal, the lower Bollinger band and the last two lower fractals: 0.662. After opening a pending order, move the stop to the next fractal low following the Bollinger and Parabolic signals. 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 (0.662) without activating the order (0.686), 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
In Australia, positive economic indicators came out. Will the AUDCHF quotes continue to rise?
The upward movement signifies strengthening of the Australian dollar against the Swiss franc. The business confidence index (NAB Business Confidence) in September this year in Australia amounted to +13 points, which is higher than the forecast of -6. In August, it was -5. Several positive Australian economic indicators were released last week. In general, high world prices for coal, natural gas, non-ferrous metals and iron ore are contributing to economic growth in this country. The products of the mining and metallurgical industries in Australia account for 38% of exports and hydrocarbons – even more than 20%. All of this can contribute to the strengthening of the Australian dollar. This week in Australia, on Thursday, will be published important data on the labor market for September. Producer & Import Prices are due in Switzerland on Thursday.
By Dmitry Lukashev – IFC Markets