The AUD/CHF offers a currency trader’s perspective as far as risk appetite is concerned. The Australian dollar is sensitive to overall risk appetite, as it also represents gold, copper, and other mineral production. On top of that, the currency also represents possible Asian growth. On the other hand, the Swiss franc is about stability and security.
Can be taken any time today.
Long Trade 1:
Buy AUD/CHF at 0.7770
Stop loss at 0.7745
Take half profit at 0.7810, let rest run.
Today’s AUD/CHF analysis:
The pair has been going strong for a while now, and the 0.78 level above represents the high. I think the pullback has been an opportunity for traders to build momentum, and the gold market is also simultaneously pressing significant resistance. Because of this, I believe we are about to see a break out. I think the longer-term move is probably to the 0.80 psychological barrier.