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We expect USDCHF to trend downwards for the next 2 hours.

Based on past Australia NAB Business Confidence news events there is a 85.71% chance of USDCHF trending downwards. We expect this to happen because the released value is > -3. A price movement of 13 pips is expected.

Historical events that allowed us to draw this conclusion

23 Jan 00:30
10 Oct 00:30
12 Sep 01:30
08 Aug 01:30
11 Jul 01:30
11 Apr 01:30

All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).

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BCHUSD is approaching 677.5200. We expect either a breakout through this line, or a rebound.

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We expect a $9898 movement on MW within 12 hours following the release of NAB Business Confidence.

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