Australian CPI which was published Wednesday morning demonstrated consumption decreasing. CPI for the first quarter is 0% (the forecast was 0,2%). As the result AUD started falling down. The pair AUD/CHF attracted our attention today, because Australian currency reached the resistance line and luckily fundamental news confirmed the bearish tendency.
On the 1W TF 200-EMA is moving down – the trend is definitely bearish. The trend line, which is linking highest highs in January and June 2018 is heading down as well. The price touched the line and started bouncing back. Simultaneously Williams %R oscillator intersected its upper line, moving down.
On the daily TF the price broke 23,6% Fibo correction level. Parabolic SAR reversed and DMI lines are intersecting each other. The local trend line up was broken by the price. The targets are the following: the first target can be 0,7149; the second target is 0,7119.
Results: we recommend to think of short positions
On the 1W TF 200-EMA is moving down – the trend is definitely bearish. The trend line, which is linking highest highs in January and June 2018 is heading down as well. The price touched the line and started bouncing back. Simultaneously Williams %R oscillator intersected its upper line, moving down.
On the daily TF the price broke 23,6% Fibo correction level. Parabolic SAR reversed and DMI lines are intersecting each other. The local trend line up was broken by the price. The targets are the following: the first target can be 0,7149; the second target is 0,7119.
Results: we recommend to think of short positions