The AUD/CHF currency pair has often been the barometer for global economic performance. Specifically, the CHF is seen as a safe haven during troubled economic times, while the AUD is more responsive to global economic conditions, albeit off the back of a strong commodity based economy.
The following articles and videos summarise the latest trends in this pair.
AUD/CHF is a great barometer of global risk. It is because of this that the move lower and under 0.85 isn't surprising. More importantly, the pair has now broken massive support. We like selling, but are waiting to see a bounce to sell as selling at this point is certainly chasing the trade. AUD/USD fell on Tuesday as well, and has gone through the 1.07 level, a massive support area. Although the area looks supportive, it should be noted that the daily candle is closing right at the lows - never a good sign. We are waiting to see if there is any signs of support between 1.0750 and 1.08. Play video >>
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