The AUD/USD pair rocketed as the President of the United States gave a less than optimistic speech late Monday night in the US. The pair looks like it is reacting to three things: Australian strength in general, the debt crisis drama in DC, and the strengthening of the gold markets. We like this pair a lot currently, but would have to wait for a pullback before we bought again. As long as we are above 1.08, we are very bullish.
The AUD/CHF pair is a slightly different story. It looks ready to roll over on the 4 hour charts, which would make sense as the world is looking for safe haven assets. While the Australian Dollar is considered to be a strong currency - none hold a candle to the Franc.
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