Swissquote Bank Research Team
Swissquote Bank Ltd
USD/CHF
Bullish bias above 0.9795
Stay on top of the markets with Swissquote’s News & Analysis
Pivot (invalidation): 0.9795
Our preference
Long positions above 0.9795 with targets at 0.9820 & 0.9845 in extension.
Alternative scenario
Below 0.9795 look for further downside with 0.9770 & 0.9755 as targets.
Comment
A support base at 0.9795 has formed and has allowed for a temporary stabilisation.
USD/CAD
Bullish bias above 1.3305
Pivot (invalidation): 1.3305
Our preference
Long positions above 1.3305 with targets at 1.3340 & 1.3370 in extension.
Alternative scenario
Below 1.3305 look for further downside with 1.3280 & 1.3255 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
AUD/USD
Turning up
Pivot (invalidation): 0.6765
Our preference
Long positions above 0.6765 with targets at 0.6795 & 0.6805 in extension.
Alternative scenario
Below 0.6765 look for further downside with 0.6750 & 0.6735 as targets.
Comment
The RSI calls for a rebound.
USD/TRY
Watch 5.6970.
Pivot (invalidation): 5.6240
Our preference
Long positions above 5.6240 with targets at 5.6690 & 5.6970 in extension.
Alternative scenario
Below 5.6240 look for further downside with 5.6000 & 5.5760 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.
Recommended Content
Editors’ Picks
GBP/USD recovers to 1.3300 ahead of UK Retail Sales data
GBP/USD trades with a positive bias for the third straight day on Friday and hovers near the 1.3300 mark in the European morning on Friday. Traders digest the BoE and Fed policy decisions, awaiting the UK Retail Sales data for further trading impetus.
USD/JPY keeps BoJ-led losses below 142.50, Ueda's presser eyed
USD/JPY remains in the red below 142.50 after the Bank of Japan announced on Friday that it maintained the short-term rate target in the range of 0.15%-0.25%, as widely expected. Governor Ueda's press conference is next in focus.
Gold consolidates weekly gains, with sight on $2,600 and beyond
Gold price is looking to build on the previous day’s rebound early Friday, consolidating weekly gains amid the overnight weakness in the US Dollar alongside the US Treasury bond yields. Traders now await the speeches from US Federal Reserve monetary policymakers for fresh hints on the central bank’s path forward on interest rates.
Shiba Inu is poised for a rally as price action and on-chain metrics signal bullish momentum
Shiba Inu remains strong on Friday after breaking above a symmetrical triangle pattern on Thursday. This breakout signals bullish momentum, further bolstered by a rise in daily new transactions that suggests a potential rally in the coming days.
Bank of Japan set to keep rates on hold after July’s hike shocked markets
The Bank of Japan is expected to keep its short-term interest rate target between 0.15% and 0.25% on Friday, following the conclusion of its two-day monetary policy review. The decision is set to be announced during the early Asian session.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.