The Reserve Bank of Australia raises red flags

The Swiss franc has been trading softer in the past sessions against the Australian dollar, compared to other currencies. But the tides will soon shift to favor bearish investors as the Reserve Bank of Australia raises red flags, opening discussions and speculations as to whether it would ease its interest rates further this month. The exchange rate should climb down to its support level thanks to the statement of Australia’s central bank earlier this week. Moreover, the Swiss franc is highly regarded as one of the most overvalued currencies of the year, but its luck didn’t pan out as much as bears would like against the Aussie. However, the recent weakness of bulls should provide an opening for further downsides. Aside from that, the rising number of coronavirus cases around the world has been causing panic in the markets recently, and as major countries prepare for larger waves of cases, the Swiss franc should remain very attractive in the forex sessions.