FxWirePro: AUD/CHF consolidates break into daily cloud, further downside on cards

AUD/CHF chart - Trading View 

AUD/CHF was trading 0.14% higher on the day at 0.6729 at around 09:00 GMT.

The pair is consolidating break into the daily cloud and outlook for the pair remains bearish.

Australian dollar fails to cheer better-than-expected China's inflation data, remains depressed amid risk-off sentiment.

China’s key inflation data for October released early Wednesday showed both CPI and PPI beat expectations and prior readings.

China’s headline Consumer Price Index (CPI) rose past 1.4% market consensus and 0.7% previous readings to 1.5% YoY. 

The Producer Price Index (PPI) refreshed a multi-month high with the 13.5% yearly figure compared to 12.4% expected and 10.7% prior.

Recovery attempts were rejected at major resistance at 200-week MA and 200-DMA and dip into daily cloud has opened more downside.

Momentum is bearish, volatility is high, scope for downside extension. Dip till lower week BB at 0.6592 likely.