The Australian Dollar (AUD) rebounds on Monday, despite a slight dip in the US Dollar (USD) and higher US Treasury yields. Investors are eyeing Australian monthly Consumer Price Index (CPI) data for February and US Gross Domestic Product (GDP) for Q4 2023. The AUD gains momentum as the ASX 200 Index rises, especially in mining and energy sectors. Additionally, the Aussie...
AUD/CHF may recover
2019-11-11 • Updated
Trade idea
BUY 0.6685; TP1 0.6730; TP2 0.6780; SL 0.6665
AUD/CHF is trading within a long-term downtrend. However, the pair has managed to find support near the psychological level of 0.6500. Now there’s scope for a bullish correction. An advance above 0.6680 (38.2% Fibo retracement of the July-August decline). Upside targets will lie at 0.6730 (50% Fibo) and 0.6780 (61.8% Fibo). On the downside, support is at 0.6560 ahead of 0.6500.
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