Ransquawk

The last period is quite bullish for the Australian currency. There was a lot going on in the past week, as we had interest rates and minutes of RBA published in the macroeconomic calendar. On Wednesday, the results of retail sales surprised positively. The reflection is visible on most pairs with the Australian dollar. It seems that one of the most interesting technical situations takes place on the pair of AUD/CHF. The daily chart indicates continuation of the growth from last week. This is a reflection of the support zone that links the last 5 lows set in last 12 months. In the fragment of the weekly chart, you can also see that the reflection starts at the bottom edge of the long-term growth channel. So it seems that we are in a good place for a growth impulse that is just being created.

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