Trading Tip – The AUDCHF has stalled at significant resistance at the 1.0200 mark, with the confluence of a 61.8% Fibonacci retracement and the 100-day Simple Moving Average restraining a further advance. Such price action suggests that the pair may fall further through the coming days of trade, offering a solid range trade opportunity. The trader may look to sell the AUDCHF on a continued hold of the 1.0200, with an ideal entry provided towards the 1.0189 mark. Yet a daily close above the 1.0200 mark would give clear signal to exit the range trade, with overall momentum likely to take the AUDCHF higher on a break.
Event Risk Australia and Switzerland
Australia – The coming week of economic data may shed further light on the future of consumer spending but is unlikely to force large moves across Aussie pairs. A Private Sector Credit report headlines event risk for the Aussie dollar, while other important economic data includes a Job Vacancies report due at 00:30 GMT on September 27. Though the second-tier report does not typically force major moves across Aussie pairs, the leading indicator for employment growth could nonetheless give insight on labor trends.
Switzerland – The Swiss franc faces mild event risk over the course of the next week. Both the UBS consumption indicator and the KOF leading indicator could ease back slightly as domestic demand wanes and financial markets remain volatile. However, the figure will likely remain elevated as the Swiss economy shows very few signs of distress.
Data for September 23 – September 28
Data for September 24 – September 28
Date
Australian Economic Data
Swiss Economic Data
Sep 23
Reserve Bank Financial Stability Review
Sep 25
UBS Consumption Indicator (AUG)
Sep 24
Reserve Bank Battellino Speaks
Sep 26
KOF Leading Indicator (SEP)
Conference Board Leading Index (JUL)
Job Vacancies (AUG)
Sep 27
Reserve bank’s Low Speaks
Private Sector Credit (AUG)
Written by David Rodriguez, Currency Analyst for DailyFX.com