AUD/CHF: Still looks like a reasonable buy-on-dips play
Talking my book as always. I took this trade on because cleverer traders than me were recommending it and now it becomes a matter of trying to trade it properly. This pair could easily trade 10% higher and still be inside well-worn ranges, and they are the kinds of trades I like (no new territory needs to be broken).
I like the idea of being long one of the risk pairs, like AUD/JPY for instance, but I sense that the market is already overly short of Yen and hence I’m more comfortable with AUD/CHF.
The daily chart is building a nice constructive trendline and I will try to be patient and wait for exit levels towards stronger resistance levels at 94.00.