The AUDCHF pair is under the microscope today as a double inside day formation occurred at the end of last week’s trading. These double inside day setups are a very good catalyst for explosive breakouts to occur. There was recently a double inside day breakout on the AUDCAD market which produced a 2 week breakout.
The trend is strong here and there is very little bearish activity in this market at the moment. We are looking for price to break the high of the overall formation to consider jumping in long with the bullish momentum.
The late NFP release is going to be printed during this New York Session so volatility could increase for the better… or for the worst. Can’t wait to see how this one plays out.