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Australian Dollar/Swiss Franc (AUD/CHF) Exchange Rate
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The strong rally in the AUD/CHF, which originated from its intra-day low of 0.64933, is now exhausted and a sideways trend started inside of its resistance zone.
The Australian dollar has chop around against many of the world’s largest currencies, and the Swiss franc hasn’t been any different.
The Australian dollar measured against the Swiss franc is a major way to express your risk appetite of global assets.
The Australian dollar has bounced a bit against the Swiss franc and other currencies during the last 30 days.
The Australian dollar has sold off against the Swiss franc during the month of May, as we have broken an uptrend line.
Get the Forex forecast focusing on major currency pairs for the week of March 6, 2017 here.
Get the AUD/CHF Forex Signal for February 24, 2017 here.
Trade can be entered as late as 8 AM New York time, or afternoon London.
The AUD/CHF pair rallied during the day on Monday, as we saw quite a bit of strength in this particular currency pair.
The AUD/CHF pair had a positive session on Thursday, testing the 0.7250 level.
The AUD/CHF pair fell during the course of the day on Monday, testing the 0.7250 level.
The AUD/CHF pair went back and forth during the course of the day on Monday, as we have recently broken out, and then pulled back looking for support at the previous resistance.
During the session on Friday, you can see that the AUD/CHF pair broke out to the upside. In fact, we not only broke out to a fresh, new high but we also broke above the top of the shooting star from the previous Thursday session.
The AUD/CHF is one of my favorite pairs to trade overall, simply because it is a basic assessment of risk appetite around the world. Quite frankly, the Australian dollar although a major currency, is considered to be a bit risky.
The AUD/CHF pair broke higher during the session on Wednesday, clearing the 0.70 level.
The AUD/CHF pair initially fell during the course of the day on Monday, but found enough support at the 0.7250 region to turn things back around and form a nice-looking hammer.
The AUD/CHF pair is one of my favorite pairs when it comes to trading the macro environment around the world. Quite frankly, the Australian dollar is considered to be one of the “riskier” currencies around the world, while of course the Swiss franc is considered to be a “safety currency.”
The AUD/CHF pair fell during the course of the last couple of weeks, and it looks like we are trying to break down below the 0.72 level. That is an area of that if it gets broken, should send this market looking towards the 0.70 handle next, and then the 0.6850 region.
The AUD/CHF pair did nothing during the session on Monday, as we essentially continue to hug the 0.7350 region. This is an interesting pair, and under normal circumstances is one of my favorite ones to follow.
The AUD/CHF pair initially broke higher during the session on Friday, but then turned back around to form a shooting star. This is the second shooting star in a row, and it appears that the market is ready to start falling.