Aud/chf in the next 72 hours: bullish,bearish or neutral
11/1/2024 01:53am
**AUD/CHF in the next 72 hours:**
The outlook for AUD/CHF is **bearish**. Here is the analysis supporting this view:
1. **Technical Indicators**: The AUD/CHF pair is currently trading below key levels such as the 50-Day and 200-Day moving averages, which are 0.5969 and 0.5849, respectively. This indicates a bearish trend.
2. **Market Sentiment**: The sentiment in the AUD/CHF market is estimated to be bearish. This is reflected in the forecasts that the AUD is expected to decrease by -3.39% in the next month.
3. **Interest Rate Differentials**: The interest rate gap between Australia and Switzerland is one of the most important variables influencing AUD/CHF pricing. If the Reserve Bank of Australia or the Swiss National Bank boost interest rates, there will be higher demand for their respective currencies, with a consequent rise in their value. However, the current sentiment suggests that the CHF may strengthen relative to the AUD.
4. **Economic Data**: The release of the US Personal Consumption Expenditure (PCE) Price Index and the Australian Employment Change data could influence the pair's direction. Favorable Australian jobs numbers have already supported the AUD, but strong US PCE data could bolster the USD.
5. **Geopolitical Risks**: Ongoing tensions in the Middle East and the uncertainty surrounding the US presidential election could act as a safe-haven driver for the CHF. However, easing concerns over a potential all-out war have already reduced some of this demand.
In conclusion, while there are some factors that could potentially support the AUD/CHF pair, such as favorable Australian jobs numbers and potential interest rate differentials, the current sentiment and technical indicators suggest a bearish outlook for the pair in the next 72 hours.