USD/CAD Intraday: the bias remains bullish
|USD/CHF
Caution.
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Pivot (invalidation): 0.9960
Our preference
Long positions above 0.9960 with targets at 0.9985 & 1.0000 in extension.
Alternative scenario
Below 0.9960 look for further downside with 0.9940 & 0.9925 as targets.
Comment
A support base at 0.9960 has formed and has allowed for a temporary stabilisation.
USD/CAD
The bias remains bullish.
Pivot (invalidation): 1.3270
Our preference
Long positions above 1.3270 with targets at 1.3310 & 1.3340 in extension.
Alternative scenario
Below 1.3270 look for further downside with 1.3250 & 1.3230 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
AUD/USD
0.6735 expected.
Pivot (invalidation): 0.6820
Our preference
Short positions below 0.6820 with targets at 0.6760 & 0.6735 in extension.
Alternative scenario
Above 0.6820 look for further upside with 0.6840 & 0.6855 as targets.
Comment
The RSI has broken down its 30 level.
USD/TRY
Key resistance at 5.6950.
Pivot (invalidation): 5.6950
Our preference
Short positions below 5.6950 with targets at 5.6640 & 5.6500 in extension.
Alternative scenario
Above 5.6950 look for further upside with 5.7110 & 5.7270 as targets.
Comment
The index currently faces a challenging resistance area at 5.6950.
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