Trend for the Day: AUD/CHF

The AUD/CHF is our trend of the day. It has broke out of a long consolidation and we missed an optimal entry back at .8200.

However, by being patient, we can attempt to catch a ride on this trend as it pulls back to the trend line in the .8250 to .8350 area. It’s important not to chase the market but allow the market to come into the Buy Zone and have stops in place just below the trend line support in case the trade does not work. There is a lot of event risk this week with the results from the 19-Bank Stress tests coming out on Thursday and Non Farm Payroll coming out on Friday.