Preparing for the publication of data on the labor market of Australia
Technical Analysis Summary AUD/CHF: Buy
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Buy | |
| MA(200) | Neutral | |
| Fractals | Neutral | |
| Parabolic SAR | Buy | |
| Bollinger Bands | Neutral |
Chart Analysis
On the daily timeframe, AUDCHF: D1 came out up from the downtrend. A number of technical analysis indicators formed signals for further growth. A number of technical analysis indicators formed signals for further growth. We do not rule out a bullish movement if AUDCHF: D1 rises above the last high of 0.669. This level can be used as an entry point. Initial risk cap possible below the Parabolic signal and the last 3 down fractals: 0.648. After opening a pending order, we move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders after making a trade can switch to a four-hour chart and set a stop loss, moving it in the direction of movement. If the price overcomes the stop level (0.648) without activating the order (0.669), it is recommended to delete the order: there are internal changes in the market that were not taken into account.
Fundamental Analysis of -
The Reserve Bank of Australia (RBA) has not ruled out a rate hike this year. Will the AUDCHF quotes continue to grow?
The move up means the strengthening of the Australian dollar against the Swiss franc. Reserve Bank of Australia (RBA) Governor Philip Lowe said the rate hike could prevent unemployment from falling to historic lows (around 3%). Recall that in December 2021 it was the lowest since August 2008 and amounted to 4.2%. The Australian labor market data for January will be released on 17 February. The RBA rate is 0.1% from December 2020 with inflation of 3.5% y/y in the 4th quarter of 2021. According to the Australian authorities, excessively low unemployment harms the development of the economy. Philip Lowe also noted that before raising the rate it is necessary to wait for inflation data in April and July. This limited the strengthening of the Australian dollar. In turn, a negative factor for the Swiss franc could be an increase in the Switzerland Consumer Price Index in January by 1.6%. This is the highest inflation rate since October 2008.