USD/CHF Intraday: The downside prevails
|USD/CHF
The downside prevails.
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Pivot (invalidation): 1.0035
Our preference
Short positions below 1.0035 with targets at 0.9990 & 0.9970 in extension.
Alternative scenario
Above 1.0035 look for further upside with 1.0060 & 1.0080 as targets.
Comment
As Long as the resistance at 1.0035 is not surpassed, the risk of the break below 0.9990 remains high.
USD/CAD
Watch 1.3150.
Pivot (invalidation): 1.3220
Our preference
Short positions below 1.3220 with targets at 1.3170 & 1.3150 in extension.
Alternative scenario
Above 1.3220 look for further upside with 1.3240 & 1.3260 as targets.
Comment
As Long as 1.3220 is resistance, look for choppy price action with a bearish bias.
AUD/USD
The bias remains bullish.
Pivot (invalidation): 0.7145
Our preference
Long positions above 0.7145 with targets at 0.7190 & 0.7210 in extension.
Alternative scenario
Below 0.7145 look for further downside with 0.7125 & 0.7100 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
USD/TRY
Under pressure.
Pivot (invalidation): 5.3000
Our preference
Short positions below 5.3000 with targets at 5.2700 & 5.2550 in extension.
Alternative scenario
Above 5.3000 look for further upside with 5.3210 & 5.3330 as targets.
Comment
A break below 5.2700 would trigger a drop towards 5.2550.
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