AUD/CHF chart - Trading View
AUD/CHF was trading 0.06% lower on the day at 0.6745 at around 10:10 GMT, outlook remains bearish.
Investors digest the latest dovish Monetary Policy Statement from the Reserve Bank of Australia (RBA).
The RBA statement revealed that the central bank is prepared to be patient and will not raise rates until its criteria are met.
AUD/CHF trades with a bearish technical bias. Price action was rejected at 200-week MA and 200-DMA.
The pair has retraced below 20-week MA and has currently paused downside at daily cloud support.
Momentum is strongly bearish, volatility is high and rising. Break below cloud will plummet prices.
Support levels - 0.6723 (Cloud top), 0.6689 (23.6% Fib), 0.6669 (Cloud base)
Resistance levels - 0.6782 (5-DMA), 0.6794 (55-EMA), 0.6815 (21-EMA)
Summary: AUD/CHF trades with a bearish bias. Watch out for break into daily cloud for further weakness.
