AUD/CHF forecast for February 25, 2021
Looking at the AUD/CHF currency pair chart in the weekly time frame, we see how much the Australian dollar dominates against the Swiss franc, returning to the levels from 2019 to 0.72500, looking at the previous high to 0.73700 from November 2018. When it comes to that zone, then we can expect consolidation or a smaller pullback.
The situation is similar in the daily time frame; We have a strong bullish momentum that made a break outside the previous consolidation making new levels on the chart at the current 0.725000. After such an impulse, a corrective pullback will likely be expected for the Australian dollar to rest a bit before continuing towards higher levels on the chart. Moving averages are far down on the bullish side, and if we look at the bearish scenario, we should look for it on a smaller time frame, but for now, only as a short-term option.
On the four-hour time frame, we see that we can still expect a smaller pullback; the AUD slowed down after a strong pulse. Here we can track moving averages because they were good support for the AUD/CHF pair for the bullish trend. The first obstacle for the pullback is our MA20 and EMA20. If we see that support, we are the first to drop to 0.72000, a break below that leads us to 0.71000 and an encounter with the moving average MA50.
From the news for these two currencies, we can single out the following:
Private capital expenditures increased by 3.0% compared to the quarter in the fourth quarter of 2020.
That hit flat reading forecasts after a 3.0 percent drop in the previous three months. Investment in buildings and structures rose 0.7 percent in December 2020, while investment in equipment, plant, and machinery rose 5.7 percent in December 2020. Investment in mining fell 1.4 percent in December 2020, while mining investment rose 4.9 percent from December.
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