I’m still on the lookout for potential opportunities to short the Aussie while coronavirus fears are in play, and the RBA statement just spurred a nice bounce.
Currency Snapshot:

Fresh Market Headlines & Economic Data:
- Chinese state media urges investors not to panic over coronavirus outbreak
- China allows U.S. health experts in while virus cases and casualties show no signs of slowing
- Coronavirus confirmed cases at 20,438; fatalities at 426
- RBA kept interest rates on hold at 0.75% as expected
- RBA: Signs that global growth slowdown is coming to an end, bushfires and coronavirus to pose short-term threats only
- Asian shares steady as Chinese markets recoup some losses
Upcoming Potential Catalysts on the Forex Calendar:
- Spanish unemployment change at 8:00 am GMT
- U.K. construction PMI at 9:30 am GMT
- Euro zone PPI at 10:00 am GMT
What to Watch: AUD/CHF

Aussie pairs got a good boost from the RBA decision in the Asian session as the central bank sounded optimistic about global and domestic growth prospects. However, this bullish reaction might be short-lived as market players remain mostly risk-averse while coronavirus contagion fears are present.
AUD/CHF is trading below a descending trend line visible on its 1-hour time frame and might be due to test this resistance area soon. This happens to line up with a support-turned-resistance level around .6525 and the 100 SMA dynamic inflection point.
There are no major reports up for release from the Swiss economy in the London session, so the lower-yielding franc might keep taking advantage of risk-off flows. If resistance at .6525 holds, the pair could resume its slide to the swing low of .6440 or lower.
Here’s MarketMilk’s volatility guide for AUD/CHF to guide you in setting exit levels:
