Forex Market: AUD/CHF trading outlook for December 14th

Written by Miroslav Marinov

Miroslav Marinov, a financial news editor at TradingPedia, is engaged with observing and reporting on the tendencies in the Foreign Exchange Market, as currently his focus is set on the major currencies of eight developed nations worldwide.

, | Updated: October 30, 2024

Friday’s trade saw AUD/CHF within the range of 0.7042-0.7200. The pair closed at 0.7069, falling 1.68% on a daily basis, or the most since December 3rd, when it depreciated 2.03%. The daily low has been the lowest level since November 9th, when a low of 0.7039 was registered. In weekly terms, AUD/CHF lost 3.42% during the current week, or the most since the week ended on August 23rd, when it slumped 3.66%. It has been a second straight week of losses. AUD/CHF has gone down 5.04% so far during the current month.

No relevant macroeconomic reports and other events, which may have an impact on AUD/CHF trading, are scheduled for release on Monday (December 14th).

Correlation with Major Currency Pairs

Taking into account the week ended on December 13th and the daily closing levels of the currency pairs involved, we come to the following conclusions in regard to the strength of relationship:

AUD/CHF to USD/CHF (0.9128, or very strong)
AUD/CHF to AUD/USD (0.8251, or very strong)
AUD/CHF to USD/JPY (0.8165, or very strong)
AUD/CHF to NZD/USD (-0.4492, or moderate)
AUD/CHF to GBP/USD (-0.6595, or strong)
AUD/CHF to USD/CAD (-0.8186, or very strong)
AUD/CHF to EUR/USD (-0.8703, or very strong)

1. During the examined period AUD/CHF moved strongly in the opposite direction compared to GBP/USD.

2. AUD/CHF moved almost equally in the opposite direction compared to USD/CAD and EUR/USD during the week.

3. AUD/CHF moved almost equally in one and the same direction with USD/JPY, AUD/USD and USD/CHF during the period in question. This relationship has been the most pronounced between AUD/CHF and USD/CHF.