USDTRY Intraday: Technical rebound in a bearish trend
|USD/CHF
The downside prevails.
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Pivot (invalidation): 0.9895
Our preference
Short positions below 0.9895 with targets at 0.9850 & 0.9820 in extension.
Alternative scenario
Above 0.9895 look for further upside with 0.9920 & 0.9935 as targets.
Comment
The RSI has broken down its 30 level.
USD/CAD
Further upside.
Pivot (invalidation): 1.3010
Our preference
Long positions above 1.3010 with targets at 1.3080 & 1.3120 in extension.
Alternative scenario
Below 1.3010 look for further downside with 1.2980 & 1.2950 as targets.
Comment
The RSI is bullish and calls for further upside.
AUD/USD
Key resistance at 0.7085.
Pivot (invalidation): 0.7085
Our preference
Short positions below 0.7085 with targets at 0.7055 & 0.7040 in extension.
Alternative scenario
Above 0.7085 look for further upside with 0.7105 & 0.7130 as targets.
Comment
A break below 0.7055 would trigger a drop towards 0.7040.
USD/TRY
Technical rebound in a bearish trend.
Pivot (invalidation): 6.0980
Our preference
Short positions below 6.0980 with targets at 6.0490 & 6.0200 in extension.
Alternative scenario
Above 6.0980 look for further upside with 6.1330 & 6.1575 as targets.
Comment
Even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.
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