AUD/CHF has been in an Ascending Triangle since May. Price touched the bottom of the channel two days ago and there was sharp bullish rejection. The Sellers are still in control of the 0.6600 resistance area, but the buyers have used the momemtum of the positive US ISM report and the positive US Jolt Job openings report to push the price upward.
The market is still looking for direction, the coronavirus pandemic is not over yet, the economic crisis is not over and there are a lot of world issues like the China-in-Hong Kong crisis, US vs China trade war and China - India Border clash. This will increase Demand for Safe Havens like CHF and Gold. The triangle is almost at the end, A Breakout will soon happen as you can see in the chart. AUD Vs CHF. Commodity Currency Vs Safe Haven Currency. Bulls Vs Bears. Buyers Vs Sellers. Who will win?
The market is still looking for direction, the coronavirus pandemic is not over yet, the economic crisis is not over and there are a lot of world issues like the China-in-Hong Kong crisis, US vs China trade war and China - India Border clash. This will increase Demand for Safe Havens like CHF and Gold. The triangle is almost at the end, A Breakout will soon happen as you can see in the chart. AUD Vs CHF. Commodity Currency Vs Safe Haven Currency. Bulls Vs Bears. Buyers Vs Sellers. Who will win?