Swissquote Bank Research Team
Swissquote Bank Ltd
USD/CHF
Look for 0.9670.
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Pivot (invalidation): 0.9745
Our preference
Short positions below 0.9745 with targets at 0.9690 & 0.9670 in extension.
Alternative scenario
Above 0.9745 look for further upside with 0.9780 & 0.9800 as targets.
Comment
The RSI lacks upward momentum.
USD/CAD
1.3145 expected.
Pivot (invalidation): 1.3210
Our preference
Short positions below 1.3210 with targets at 1.3170 & 1.3145 in extension.
Alternative scenario
Above 1.3210 look for further upside with 1.3230 & 1.3255 as targets.
Comment
A break below 1.3170 would trigger a drop towards 1.3145.
AUD/USD
Bullish bias above 0.6945.
Pivot (invalidation): 0.6945
Our preference
Long positions above 0.6945 with targets at 0.6975 & 0.7000 in extension.
Alternative scenario
Below 0.6945 look for further downside with 0.6920 & 0.6900 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
USD/TRY
Continuation of the rebound.
Pivot (invalidation): 5.7750
Our preference
Long positions above 5.7750 with targets at 5.8380 & 5.8850 in extension.
Alternative scenario
Below 5.7750 look for further downside with 5.7350 & 5.7000 as targets.
Comment
The break above 5.7750 is a positive signal that has opened a path to 5.8380.
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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