AUD/CHF has slumped a massive 1.40% on the day to hit fresh 2-week lows at 0.7568. The Swiss franc was the top performer on the day, as markets spooked amidst intensifying tensions between US and North Korea. Technically, we note a 'Bearish Bat Pattern' on AUD/CHF daily charts which combined with bearish divergence has seen downside. We see scope for further downside. 200-DMA at 0.7502 is next likely bear target. On the flipside, we see bearish invalidation only on close above 5-DMA at 0.7680.
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