Analysis (Trade of the week)

Short AUDCHF from anywhere between 0.67200 to 0.68000 .

Technical Rationale:
_Price Action being hovering around 370h, 530h & 670h resistance lines in a bearish channel, While four supply zones above the price are held clear, 62% & 78% Fibonacci rets are in the area & two round digits, 0.67500 & 0.68000, do coincide.

I expect this trade to get triggered right in the Asian Session ahead, But of course I'll keep an eye on tomorrow morning's CHF Unemployment Release.

Bình luận:

_Fundamental Rationale:

_Alright, on the AUD side, commodities are tumbling, and their volatility is still high.
Oil prices fell nearly 4% today & Copper traded at two weeks lows, As Delta Variant risks arising in Asia, China's demand for these commodities has been decreasing.
It's not a condition of risk-off yet, as U.S. Indices are yet in hope of Infrastructure Bill, which in case Virus Risks arise again, proves to be little.
UBS predicts FED tapering by the end of year after the solid job reports;
In such case, it won't take long for Equity Indices to stop the party.
I don't believe JPY would be a good pair for this trade since Japan itself is Under pressure by Asian Virus outbreak & Strong USD for now.

Anyhow predicting Technical levels on CHF is a brawl with SNB, in case the above Fundamental criteria develops, any AUDCHF Short is reasonable.

Good Luck

Đã hủy lệnh:

I Divorce my decision on this position, since CHF is not strong anymore, due to recent shifts in Sentiment factors.