Swissquote Bank Research Team
Swissquote Bank Ltd
USD/CHF: The bias remains bullish
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Pivot (invalidation): 0.9490
Our preference
Long positions above 0.9490 with targets at 0.9525 & 0.9540 in extension.
Alternative scenario
Below 0.9490 look for further downside with 0.9475 & 0.9455 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
USD/CAD: Watch 1.3625
Pivot (invalidation): 1.3690
Our preference
Short positions below 1.3690 with targets at 1.3645 & 1.3625 in extension.
Alternative scenario
Above 1.3690 look for further upside with 1.3715 & 1.3740 as targets.
Comment
A break below 1.3645 would trigger a drop towards 1.3625.
AUD/USD: Continuation of the rebound
Pivot (invalidation): 0.6855
Our preference
Long positions above 0.6855 with targets at 0.6890 & 0.6920 in extension.
Alternative scenario
Below 0.6855 look for further downside with 0.6840 & 0.6820 as targets.
Comment
The RSI calls for a rebound.
USD/TRY: Key resistance at 6.8590
Pivot (invalidation): 6.8590
Our preference
Short positions below 6.8590 with targets at 6.8350 & 6.8250 in extension.
Alternative scenario
Above 6.8590 look for further upside with 6.8720 & 6.8840 as targets.
Comment
The upward potential is likely to be limited by the resistance at 6.8590.
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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