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The Trend of the Day = AUD/CHF

The Trend of the Day = AUD/CHF

Gregory McLeod, Currency Analyst
aussie swissThe Reserve Bank of Australia (RBA) raised interest rates by 25 basis points making the Australian Dollar an attractive high yielder. The Aussie currencies have outperformed the major currency pairs and this trend is especially pronounced in the AUD/CHF. Aussie Swiss took out its October 4th high located in the .9200 area. The daily trend remains strongly up so as traders, would look to enter long. However, rather than chasing this fast moving pair, wait for price to retrace and retest the breakout area. Look to enter long in the .9200 area with a stop in the .9140 area

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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