AUDCHF - Pullbacks Favoured, Targets in Sight

The Australian Dollar has been facing headwinds from this latest wave of risk reduction, mostly brought on by the breakdown in talks between the US and China on trade. The downtrend was accelerated by poor data overnight. Regarding the CHF, the SNB remains uncomfortable with Franc appreciation and continues to remind the market it will need to be careful about any attempts at trying to force an appreciation in the currency. So while we are cautious, we also must obey the relative strength of CHF.
AudChf short-term positions remain valid, on pullbacks.