TRENDING:

Trade War

XAU/USD

USD/TRY intraday: Key resistance at 6.8590

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.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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