Swissquote Bank Research Team
Swissquote Bank Ltd
USD/CHF
Bullish bias above 0.9700.
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Pivot (invalidation): 0.9700
Our preference
Long positions above 0.9700 with targets at 0.9730 & 0.9745 in extension.
Alternative scenario
Below 0.9700 look for further downside with 0.9680 & 0.9665 as targets.
Comment
The RSI lacks downward momentum.
USD/CAD
Key resistance at 1.4040.
Pivot (invalidation): 1.4040
Our preference
Short positions below 1.4040 with targets at 1.3995 & 1.3975 in extension.
Alternative scenario
Above 1.4040 look for further upside with 1.4075 & 1.4105 as targets.
Comment
The upward potential is likely to be limited by the resistance at 1.4040.
AUD/USD
Bullish bias above 0.6205.
Pivot (invalidation): 0.6205
Our preference
Long positions above 0.6205 with targets at 0.6250 & 0.6275 in extension.
Alternative scenario
Below 0.6205 look for further downside with 0.6180 & 0.6155 as targets.
Comment
A support base at 0.6205 has formed and has allowed for a temporary stabilisation.
USD/TRY
The upside prevails.
Pivot (invalidation): 6.7610
Our preference
Long positions above 6.7610 with targets at 6.7910 & 6.8150 in extension.
Alternative scenario
Below 6.7610 look for further downside with 6.7490 & 6.7290 as targets.
Comment
Technically the RSI is above its neutrality area at 50.
This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.
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