04/26/23

Based on the information provided, it appears that the AUD/USD pair has been largely consolidating between 0.6600 to 0.6800 after a big fall from February to early March. However, any upside momentum has been stalled by the 100 and 200-day moving averages, and the pair has now broken below daily support from the 24 March low at 0.6625 to reach fresh six-week lows. This follows the release of Australian CPI data, which missed estimates but still came in well above the RBA's target band of 2% to 3%. Despite this, the data may give the RBA some breathing room to keep its cash rate unchanged after pausing its tightening cycle earlier this month. The article notes that it may be tough to argue for an upside return for the Aussie due to a softer risk backdrop and an added divergence in terms of interest rates between the Aussie and the dollar. The supportive layer to watch out for next is around 0.6563-85, with a potential quick dive towards 0.6500 if it gives way.

The latest data released by Credit Suisse and CFA Society Switzerland shows that Swiss investor sentiment improved in April, with the index rising to -33.3 from the previous reading of -41.3. Analysts now do not see any immediate risks of a recession in the near-term. However, the report did note that the consequences of the recent banking stress remain unclear, which adds some risks to the outlook. Overall, the improved sentiment suggests that investors in Switzerland are becoming more optimistic about the economic outlook. 

Conclusion AUD/CHF @ 0.58849 closed @ 0.58565 28.5 pips