AUDCHF - Bullish Bias
AUD - BULLISH
1️⃣ Strong data from the Chinese economy boosted sentiment as retail sales and industrial production figures for February surpassed estimates and rose 33.8% and 35.1%, respectively.
2️⃣ New home sales jumped 22.9% mom in February, according to the HIA, reversing from a 69.4% surge in January.
CHF - BEARISH
1️⃣ Stronger-than-expected US jobs data and the pandemic relief bill boosted prospects of the US economic recovery.
2️⃣ Expectations of a robust economic revival fueled by the rapid rollout of vaccines and additional fiscal spending raised investors’ appetite for riskier assets.
3️⃣ Positive risk tone weighing on the safe-haven CHF.
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Technical
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We are buying the AUDCHF at support + above SMA 50 on the H1 chart.
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Risk to this trade
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Any change in sentiment could turn the pair's direction.
1️⃣ Strong data from the Chinese economy boosted sentiment as retail sales and industrial production figures for February surpassed estimates and rose 33.8% and 35.1%, respectively.
2️⃣ New home sales jumped 22.9% mom in February, according to the HIA, reversing from a 69.4% surge in January.
CHF - BEARISH
1️⃣ Stronger-than-expected US jobs data and the pandemic relief bill boosted prospects of the US economic recovery.
2️⃣ Expectations of a robust economic revival fueled by the rapid rollout of vaccines and additional fiscal spending raised investors’ appetite for riskier assets.
3️⃣ Positive risk tone weighing on the safe-haven CHF.
=====
Technical
=====
We are buying the AUDCHF at support + above SMA 50 on the H1 chart.
=====
Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
Trade active
Trade closed: stop reached
❌ TRADE HAS HIT STOP LOSS-30 PIPS
CHF benefitted from the risk-off tone.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.