AUDCHF Heading to the downside? (FUNDAMENTALS)
Hey Traders,
AUD is showing weakness as the RBA are ready to start hiking rates, this data is usually already priced into the market but it is the meeting minutes which indicate where we are heading into the future. Also expecting lower retail sales data later in the week.
CHF is looking rather bullish, on the other hand with not much room for the Monetary Policy to ease the outlook is rather Dovish. The data releases do remain weak but with stocks heading lower I can see money flooding into the CHF.
As you can see by the chart, we have formed and broken a clean flag pattern on the 4h timeframe. Keep an eye on how this chart runs and the reaction to the interest rate hikes by the RBA.
Good luck traders!
AUD is showing weakness as the RBA are ready to start hiking rates, this data is usually already priced into the market but it is the meeting minutes which indicate where we are heading into the future. Also expecting lower retail sales data later in the week.
CHF is looking rather bullish, on the other hand with not much room for the Monetary Policy to ease the outlook is rather Dovish. The data releases do remain weak but with stocks heading lower I can see money flooding into the CHF.
As you can see by the chart, we have formed and broken a clean flag pattern on the 4h timeframe. Keep an eye on how this chart runs and the reaction to the interest rate hikes by the RBA.
Good luck traders!
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