AUD/CHF Forecast Today 28/5: AUD Gains On The Franc (Video)
Date
5/28/2024 2:49:52 PM
(MENAFN- Daily Forex) The Aussie dollar rallied a bit during the course of the trading session here on Monday, as it looks like we continue to see the carry trade come into vogue you get paid at the end of every day to hold this pair and the Swiss franc of course is a huge funding currency, with that being said, short-term pullbacks continue to be bought and therefore, I think you have to look at it through the prism of trying to find value Australian dollar is a commodity based currency, so it has a massive kind of commodity trade just waiting to happen. And with that being the case, unless we get some type of huge risk off type of situation, this is a pair that I think continues to go higher. Top Forex Brokers 1 Get Started 74% of retail CFD accounts lose money Read Review BrokerGeoLists({ type: \u0027MobileTopBrokers\u0027, id: \u0027mobile-top-5\u0027, size: 5, getStartedText: \u0060Get Started\u0060, readReviewText: \u0060Read Review\u0060, }); var Top5PanelSections = { Logo: \u0027broker_carrousel_i\u0027, Button: \u0027broker_carrousel_n\u0027, }Looking into the Higher Time FramesWhen you zoom out to higher timeframes, you can see just how explosive we\u0026#39;ve been to the upside, and we formed what I believe is going to end up being a major bottom. I see this across all Swiss franc based pairs anyways. So, it\u0026#39;s not just this AUD/CHF one. It\u0026#39;s GBP/CHF, CAD/CHF. It\u0026#39;s even USD/CHF. So, with all of this, I am a buyer of dips.I have no interest in shorting. I don\u0026#39;t want to own the Swiss franc unless of course something comes unraveled from a geopolitical sense. And let\u0026#39;s be honest, it could. This is a pair that I think every time it pulls back, you have to think, where can I buy? Longer term, it wouldn\u0026#39;t surprise me at all to see this hit the 0.65 level over the next couple of months we get to that target, you get paid at the end of every day and if you hang onto it currency pair long enough, you do get paid quite well over the longer term. It is because of this that the AUD/CHF pair is one of my favorite currency pairs, right along with the GBP/CHF pair.
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