Audchf sell off
Dark cloud cover Daily. Surprisingly Audusd net long positions are are a staggering 82% while net long positions for Audchf are at 75%. Chf should gain some safe haven buyers with it being above a Weekly support and the other safe havens such as USD and Yen have a heavy economic calendar which will raise uncertainty and volatility. With both U.S. and Jpy having rate decisions this week Chf should take the lead in the basket of currencies after having a cool off. Aud has Building consents, Home sales, Cpi, PPI and retail sales this week.
$.6770 next target
$.6770 next target
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