USDTRY Intraday: Capped by a negative trend line
|USD/CHF
Bullish bias above 0.9895.
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Pivot (invalidation): 0.9895
Our preference
Long positions above 0.9895 with targets at 0.9930 & 0.9955 in extension.
Alternative scenario
Below 0.9895 look for further downside with 0.9880 & 0.9865 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
USD/CAD
Caution.
Pivot (invalidation): 1.3015
Our preference
Long positions above 1.3015 with targets at 1.3050 & 1.3070 in extension.
Alternative scenario
Below 1.3015 look for further downside with 1.3000 & 1.2980 as targets.
Comment
A support base at 1.3015 has formed and has allowed for a temporary stabilisation.
AUD/USD
Key resistance at 0.7120.
Pivot (invalidation): 0.7120
Our preference
Short positions below 0.7120 with targets at 0.7095 & 0.7080 in extension.
Alternative scenario
Above 0.7120 look for further upside with 0.7130 & 0.7140 as targets.
Comment
Technically the RSI is below its neutrality area at 50.
USD/TRY
Capped by a negative trend line.
Pivot (invalidation): 5.9380
Our preference
Short positions below 5.9380 with targets at 5.8380 & 5.7680 in extension.
Alternative scenario
Above 5.9380 look for further upside with 6.0055 & 6.0810 as targets.
Comment
A break below 5.8380 would trigger a drop towards 5.7680.
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