Swiss Franc is About To Reverse
Historically, the stability of the franc is caused by the solid Swiss economy and a highly developed banking system…
AUD/CHF suffered losses
2019-12-04 • Updated
Trade idea
SELL 0.6730; TP 0.6700; SL 0.6740
The attempt of AUD/CHF to overcome 0.6800 so far hasn’t been successful. The pair formed a “spinning top” candlestick on the D1 on Tuesday. During the Asian session on Wednesday, it has gone down to test 0.6736 (the 100-day MA; 38.2% Fibonacci of the August-November advance) as Australia released weaker-than-expected GDP growth and the overall market sentiment worsened. The slide below 0.6730 will confirm the formation of an "ascending wedge" to the downside and may be a cue for selling with a target in the 0.6695 area.
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