AUD,NZD/FXWW News/Trade Ideas

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.

  1. Hi Sean,
    There is very good support for EURAUD at 1.385. So, if we need to see 0.94 in AUDCHF, either EURAUD should break the support at 1.385 or EURCHF should rally. The latter looks unlikely in the current situation and so what is the best downside target for EURAUD? Can we expect a similar move in EURNZD?

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