FURTHER DECLINE IN THE AUDCHF TO COMELooking at the AXY there appears to be further decline due to key global and economic issues surrounding the USA, china and UK markets.
Here we take a further look at shorting the AUDCHF pair and our reasons why.
Australian weighted average 4Hr
The Australian weighted average looks to have hit a key resistance level. Were looking for a bunce to the downside.
Swiss Franc weighted average daily
Daily view were looking at a strong support for a further bounce to the upside.
Swiss France “SXY”
The SXY looks to be heading higher with key new higher highs and higher lows being made.
AUDCHF monthly view
We believe there is further downside movement in this pair due to strengthening of the SXY and a further decline in the AXY.
With uncertainty within the global markets the CHF tends to be a good haven.
Look for good entries to short this pair further
Good luck to all
