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Bullish Trend Remains Intact Above Major Support Levels
Economic
Central Bank
Summary:
If buyers intend to reassert control and preserve the broader bullish structure, this support region appears to be the most favorable area for such reaction .
Buy
TradingAUDCHF
EXP
0.58415
Entry Price
0.59000
TP
0.57900
SL
0.58318 -0.00036 -0.06%
0
Point
Flat
0.57900
SL
CLOSING
0.58415
Entry Price
0.59000
TP
Reserve Bank of Australia Governor Michele Bullock did not provide explicit guidance regarding the future path of monetary policy, but she noted that estimates of neutral interest rates are rising globally and continue to support higher bond yields. Bullock stated that neutral rates appear to be moving higher around the world, contributing to stronger real bond yields. She also warned that Australia’s elevated inflation environment continues to be influenced by energy-related supply shocks as well as resilient domestic demand.
Earlier, RBA Deputy Governor Sarah Hunter stated that interest rates may need to move higher again if inflation becomes more entrenched within the economy. Her remarks reinforced expectations that policymakers remain prepared to tighten monetary policy further should inflation prove more persistent than anticipated.
Additional comments from RBA Deputy Governor Andrew Hauser also pointed toward the possibility of further rate increases. Hauser noted that the central question for policymakers is whether the monetary tightening already delivered will be sufficient to return inflation to target within a reasonable timeframe. His remarks suggested that the central bank remains focused on ensuring that inflation pressures continue moving lower before considering any shift in policy direction.
In Switzerland, inflation remains close to the lower end of the Swiss National Bank’s price stability range, supporting the case for maintaining the policy rate at 0%. Markets broadly expect the SNB to leave interest rates unchanged when it announces its monetary policy decision on Thursday.
The Swiss National Bank also warned on Tuesday that developments in the Middle East continue to warrant close monitoring. Officials stated that the central bank remains prepared to intervene in foreign exchange markets if necessary. While no further details were provided, such action would likely be aimed at preventing an excessive appreciation of the Swiss franc, which could undermine the SNB’s efforts to keep inflation within its desired range.
The SNB is scheduled to meet on Thursday, and policymakers are widely expected to leave the benchmark interest rate unchanged at its current level of 0%. Earlier this month, SNB President Martin Schlegel acknowledged that inflationary pressures have increased somewhat in recent months. However, he emphasized that price pressures remain comfortably within the central bank’s stability range, effectively ruling out additional monetary tightening for the foreseeable future and potentially through much of 2027.
Technical Analysis
AUDCHF remains firmly positioned within a broader bullish trend that has repeatedly found support from both the 100-period and 200-period moving averages. The pair has recently entered another corrective phase and is currently consolidating around the 100-period moving average, located at 0.5835. Meanwhile, the 200-period moving average continues to provide support from below at 0.5788.
If the 100-period moving average continues to hold as support, the pair could resume its upward trajectory and target the psychological resistance level at 0.5900. Adding further significance to this area, a local support level is also positioned close to the moving average, creating a support confluence that could provide additional buying interest and reinforce the potential for a renewed move higher.
Looking at momentum indicators, the Relative Strength Index (RSI) recently declined toward the 35 level, a reading not seen since August 19. During that previous decline, the pair pulled back toward dynamic support before quickly resuming its bullish trend. A similar reaction from current levels could signal that buyers are once again preparing to regain control of the market and continue the broader advance.
Meanwhile, the MACD continues to display a bearish histogram, although the histogram is rapidly losing depth, suggesting that downside momentum is beginning to fade. At the same time, the signal lines have recently crossed into bearish territory, indicating that the current pullback remains active. However, if buyers intend to reassert control and preserve the broader bullish structure, this support region appears to be the most favorable area for such a reaction to develop before additional bearish confirmations begin to strengthen the downside case.
Trading Recommendations
Trading direction: Buy
Entry price: 0.5841
Target price: 0.5900
Stop loss:0.5790
Validity: Oct 02, 2026 15:00:00
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