AUDCHF - Bullish Bias

11 mars 2021

AUD - BULLISH
1️⃣ Strong risk sentiment boosted the Aussie from 5-week lows after the US Congress approved President Biden's $1.9 trillion coronavirus relief package.
2️⃣ Reserve Bank of Australia governor Philip Lowe rejected market expectations of an early increase in interest rates, insisting it will not lift its record-low cash rate of 0.1% until the jobless rate falls far enough to generate higher wages.
3️⃣ Australia's inflation expectations increased to an 11-month high of 4.10% mom in March.

CHF - BEARISH
1️⃣ Stronger-than-expected US jobs data and the pandemic relief bill boosted prospects of the US economic recovery.
2️⃣ Expectations of a robust economic revival fueled by the rapid rollout of vaccines and additional fiscal spending raised investors’ appetite for riskier assets.
3️⃣ Positive risk tone weighing on the safe-haven CHF.

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Technical
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We are looking to buy the AUDCHF at support + above SMA 50 on the H1 chart.

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Risk to this trade
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Any change in sentiment could turn the pair's direction.

11 mars 2021

Ordre annulé

DELETE PENDING ORDER

We are buying CADCHF for the moment.