TRENDING:

XAU/USD

Silver

AUD/USD levels: The downside prevails

Swissquote Bank Research Team Swissquote Bank Ltd

USD/CHF

Key resistance at 0.9745.

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Pivot (invalidation): 0.9745

Our preference
Short positions below 0.9745 with targets at 0.9725 & 0.9715 in extension.

Alternative scenario
Above 0.9745 look for further upside with 0.9760 & 0.9780 as targets.

Comment
As Long as the resistance at 0.9745 is not surpassed, the risk of the break below 0.9725 remains high.

USD/CAD

Under pressure.

Pivot (invalidation): 1.3105

Our preference
Short positions below 1.3105 with targets at 1.3035 & 1.3000 in extension.

Alternative scenario
Above 1.3105 look for further upside with 1.3130 & 1.3150 as targets.

Comment
The RSI is bearish and calls for further decline.

AUD/USD

The downside prevails.

Pivot (invalidation): 0.7120

Our preference
Short positions below 0.7120 with targets at 0.7085 & 0.7065 in extension.

Alternative scenario
Above 0.7120 look for further upside with 0.7135 & 0.7150 as targets.

Comment
The RSI is bearish and calls for further downside.

USD/TRY

Turning down.

Pivot (invalidation): 6.4600

Our preference
Short positions below 6.4600 with targets at 6.3940 & 6.3700 in extension.

Alternative scenario
Above 6.4600 look for further upside with 6.4900 & 6.5400 as targets.

Comment
The break below 6.4600 is a negative signal that has opened a path to 6.3940.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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