The AUDCHF pair has regularly been testing the resistance level of 0.707 since the end of March. It wasn’t able to consolidate above the mentioned level – a demand for the Swiss franc comes back, when investors move into the low-risk assets.
Now, after a new wave of decline, the stock markets are rebounding upwards, which puts pressure on the franc. For the AUDCHF there exists a new opportunity to move up to the level of 0.707.
This content is for informational purposes only and is not intended to be investing advice.
