Currently, the USD/CHF is up 1.68% on the day while CHF/JPY is down 1.78% on the day. So the clear momentum mover on the day is the Swiss franc. It’s dropping like a rock…so the franc short sellers have been the ones to have the movement today thus far.
Those of you that are in the AUD/JPY swing trade are probably up about 50 pips thus far from yesterday’s mention of it in my blog.
Aussie has been the most “fundamentally strong” currency out there for a while now…so its best to buy the “best” fundamentally when markets are trying to work their way out of a global recession.
That’s why traders should keep an eye on AUD/USD, AUD/JPY, AUD/CHF, etc. and value those buy signals that they get higher than the buy signals that they get on other pairs (in my opinion of course).
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