AUD/USD levels: Key resistance at 0.7285

Swissquote Bank Research Team Swissquote Bank Ltd

USD/CHF

Bullish bias above 0.9945.

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Pivot (invalidation): 0.9945

Our preference
Long positions above 0.9945 with targets at 0.9985 & 1.0010 in extension.

Alternative scenario
Below 0.9945 look for further downside with 0.9915 & 0.9895 as targets.

Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

USD/CAD

Limited upside.

Pivot (invalidation): 1.3135

Our preference
Long positions above 1.3135 with targets at 1.3175 & 1.3200 in extension.

Alternative scenario
Below 1.3135 look for further downside with 1.3110 & 1.3090 as targets.

Comment
A support base at 1.3135 has formed and has allowed for a temporary stabilisation.

AUD/USD

Key resistance at 0.7285.

Pivot (invalidation): 0.7285

Our preference
Short positions below 0.7285 with targets at 0.7245 & 0.7225 in extension.

Alternative scenario
Above 0.7285 look for further upside with 0.7310 & 0.7335 as targets.

Comment
The index currently faces a challenging resistance area at 0.7285.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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