Swissquote Bank Research Team
Swissquote Bank Ltd
USD/CHF
The downside prevails.
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Pivot (invalidation): 0.9895
Our preference
Short positions below 0.9895 with targets at 0.9850 & 0.9820 in extension.
Alternative scenario
Above 0.9895 look for further upside with 0.9920 & 0.9935 as targets.
Comment
The RSI has broken down its 30 level.
USD/CAD
Further upside.
Pivot (invalidation): 1.3010
Our preference
Long positions above 1.3010 with targets at 1.3080 & 1.3120 in extension.
Alternative scenario
Below 1.3010 look for further downside with 1.2980 & 1.2950 as targets.
Comment
The RSI is bullish and calls for further upside.
AUD/USD
Key resistance at 0.7085.
Pivot (invalidation): 0.7085
Our preference
Short positions below 0.7085 with targets at 0.7055 & 0.7040 in extension.
Alternative scenario
Above 0.7085 look for further upside with 0.7105 & 0.7130 as targets.
Comment
A break below 0.7055 would trigger a drop towards 0.7040.
USD/TRY
Technical rebound in a bearish trend.
Pivot (invalidation): 6.0980
Our preference
Short positions below 6.0980 with targets at 6.0490 & 6.0200 in extension.
Alternative scenario
Above 6.0980 look for further upside with 6.1330 & 6.1575 as targets.
Comment
Even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.
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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