AUDUSD & GOLD have a positive correlation, because Australia is the 3rd biggest Gold producer, so I believe as the price of Gold increases, so will AUD and from technical stand point we're looking for a a re-test of daily trend resistance and continuation of the up trend over the course of the week.
I assume, we'd be looking to go long on USDCHF now after the C corrective wave. Furthermore, this could be an opportunity for price to create an inverted head and shoulders and potentially push the market past the daily resistance trend line.
That also tells me, the price of Gold may weaken temporarily as both pairs tend to move in the opposite direction to each other.
-Expanding Wedge formed on weekly chart
-double bottom formed on support trend line on the daily chart; showing momentum to the downside has decreased.
-4H chart; 3 tests of support identify a consolidation. Also shows signs of bullish divergence.
Looking to go long..