AUDCHF Chart Technical Outlook set to resume higher toward 0.5900 on dovish SNB
AUD/CHF’s broad bias is bullish. CHF is under pressure from the surprise cut from the SNB last week. While the recent bias from RBA was considered the bank moving from hawkish to neutral bias, Governor Bullock argued against that – this could support AUD.
Prices have been printing higher highs and higher lows, trading in a bullish channel. I expect more upside price action. Risk appetite would be supportive for bulls.
Resistances: 0.5880, 0.5900
Supports: 0.5830, 0.5800
