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Forex Update: AUDCHF Continuation Watch.

Published: 03.05.2023
by Joseph Jeffriess

Today’s focus AUDCHF

Pattern – LH – Continuation

Possible targets – .5920 .5875

Support – .5951

Resistance – .5875

Indicator support – MA sloping down, CCI 0 Cross

Hi and welcome to today’s update. Today we are watching the AUDCHF and wondering if we will see a new continuation lower that will maintain the current downtrend. Yesterday buyers made a solid move after the RBA rate hike but the move was cut down through the US session. We have run over the triggers we are looking for to confirm our continuation idea and watch to watch out for what could invalidate this idea.

Another factor could be tomorrow morning’s FOMC. If this ends up giving the AUD a boost it could invalidate the the signs we are seeing currently. The FOMC will be released at 4:00 am AEST Thursday morning.

AUDCHF Analysis Video

Thanks for stopping by. Good trading, and have a great day.

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