AUDCHF Chart Technical Outlook rises toward 0.5870 on improving risk sentiment
AUD/CHF printed a double bottom with a bullish divergence. It has room for the pattern neckline, and technical indicators support the bullish move.
AUD is supported by stubborn inflation in Australia and hawkish comments from the RBA Governor Michele Bullock. The improving market mood helps AUD to advance.
CHF was the best performer last month, offering an opportunity for profit-taking and some losses amid the risk appetite sentiment.
I expect more upside price action toward 0.5870. If broken, 0.5920 will be in sight.
Supports are located at 0.5800 and 0.5750.