AUD - Strong Bearish
1️⃣ Beijing is stepping up measures to reduce steel production due to environmental problems.
2️⃣ Investors remain worried about China Evergrande Group’s unresolved debt crisis.
3️⃣ Preliminary readings show retail sales in Australia are down 1.7%, after a 2.7% decline in the previous month.
CHF - Strong Bullish
1️⃣ Investors are turning to safe-haven currencies amid a negative market environment.
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Technical
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We are selling AUDCHF after it failed to break the resistance level.
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Risk to this trade
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Any change in sentiment could turn the pair's direction.
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