Revisiting Aussie Upside

by Ashraf Laidi

Mar 10, 2009 12:34

Aussie appears at the cusp of exploiting broad gains amid a modest advances in risk appetite as the currency is characterised with superior structural foundation and yield foundation. Each of my calls on HotCharts favouring AUDCAD (Feb 16) and AUDCHF (Mar 3) attained their upside targets. Today, AUDCHF is underpinned by a more attractive momentum and fundamental positioning, eyeing 74.65, (23% retarcement of 79.32-73.10 decline, followed by 75.25. This weeks Swiss National Bank rate decision may generate speculation on credit easing, which is a negative for CHF. Support stands at 72.90.

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