USDCHF Daily Outlook – The Aussie dollar just went full-on bearish, surpassed the lows of the 2008 market crash on Wednesday and dove down to 18-year lows early on Thursday reaching the levels we talked about 2 days ago, way faster than I thought… Did any of you catch those pips?
The corona panic continues to spread over the markets and the USD remains in high demand regardless of the economic data. The main reason is the measures and the responses from central banks and governments to the coronavirus. Investors are taking these measures as clear economic warnings that things are really bad. Now, are they really THAT bad? Or are traders simply just panicking because there’s a lot of unknown involved?
I’d love to hear from you and what you think about this.
Today I’m also looking at the USD/CHF pair which could be one of the only major crosses that is still somewhat within its normal range. It’s bounce off from the lower band of the range at 0.92 and is potentially off towards the upper band at around 1.02 in the medium term.
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