LOGN AUD/CHF
@ 0.7650
sl @ 0.7535
be @ 0.7750
P @ 0.7880 or above (0.8110)
- RBA released the newest statement tonight with neutral to hawkish statement, basically the further rate cut possibility has been removed. Furthermore, the high commodity price continues to support AUD and the fundamental datas had been better from the contracted Q3 GDP to much better number now. The high yield continues to support AUD as a popular carry trade as well. On the contrary, the negative yield continues to drag down CHF, with low inflation and continuation of QE. The SNB continues to be dovish as well. Technically, we had a strong support at 0.7650 with weekly support, between 25 EMA and 50 EMA. We also had rejected this level 3 times already and not able to close below since we broke above in Feb 9th. We could put pending order at 0.7650 with 2 x ATR at 0.7535 and set SL to BE at 0.7750, profit at 0.7940 or trailing R1.
- The catalyst is the fundamental bias and technical level and price action.
- We’re in a steady uptrend now.
- The risk is commodity price drop for large whipsaw.
- I’ll mange with RBA stance
- Yes
LOGN AUD/CHF
@ 0.7650
sl @ 0.7535
be @ 0.7750
P @ 0.7880 or above (0.8110)