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20 Sep 2013
AUD/CHF in a corrective uptrend after yesterday’s sharp selloff
FXstreet.com (Athens)- The AUD/CHF has managed to pare some of its massive yesterday’s losses, but still moving below 0.8600
The AUD/CHF is moving slightly upwards but still capped by 0.8600
A notably quiet session today regarding both Australian economy as well as the Switzerland one. The AUD/CHF is trying to regain its lost ground after yesterday’s collapse but still is capped by the crucial even in psychological term resistance as of 0.8600. Yesterday, Switzerland’s central bank affirmed its cap on the franc and vowed to defend it with unlimited currency interventions to protect the economy. The Swiss National Bank (SNBN), led by President Thomas Jordan, kept its cap on the franc at 1.20 per euro. It also left the band for its benchmark interest rate unchanged at zero percent to 0.25 percent, as forecast by all 21 economists in a Bloomberg News survey.
Strategic bias and Technical Outlook on AUD/CHF
At the time of writing the pair is trading at 0.8593, up 0.07% but well below 0.8600. The FXstreet.com Trend Index shows the pair to be slightly bearish in the 15 minutes timeframe. Daily pivot point support can be found at 0.8531, 0.8510, 0.8489 and resistance at 0.8661, 0.8684 and 0.8710, respectively.
The AUD/CHF is moving slightly upwards but still capped by 0.8600
A notably quiet session today regarding both Australian economy as well as the Switzerland one. The AUD/CHF is trying to regain its lost ground after yesterday’s collapse but still is capped by the crucial even in psychological term resistance as of 0.8600. Yesterday, Switzerland’s central bank affirmed its cap on the franc and vowed to defend it with unlimited currency interventions to protect the economy. The Swiss National Bank (SNBN), led by President Thomas Jordan, kept its cap on the franc at 1.20 per euro. It also left the band for its benchmark interest rate unchanged at zero percent to 0.25 percent, as forecast by all 21 economists in a Bloomberg News survey.
Strategic bias and Technical Outlook on AUD/CHF
At the time of writing the pair is trading at 0.8593, up 0.07% but well below 0.8600. The FXstreet.com Trend Index shows the pair to be slightly bearish in the 15 minutes timeframe. Daily pivot point support can be found at 0.8531, 0.8510, 0.8489 and resistance at 0.8661, 0.8684 and 0.8710, respectively.