EUR/USD Intraday: 1.1100 expected

Swissquote Bank Research Team Swissquote Bank Ltd

EUR/USD

1.1100 expected.

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Pivot (invalidation): 1.1065

Our preference
Long positions above 1.1065 with targets at 1.1085 & 1.1100 in extension.

Alternative scenario
Below 1.1065 look for further downside with 1.1050 & 1.1035 as targets.

Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited. The pair keeps challenging the overhead resistance at 1.1085.

GBP/USD

Bullish bias above 1.2785.

Pivot (invalidation): 1.2785

Our preference
Long positions above 1.2785 with targets at 1.2870 & 1.2900 in extension.

Alternative scenario
Below 1.2785 look for further downside with 1.2740 & 1.2695 as targets.

Comment
Technically the RSI is above its neutrality area at 50. The pair is consolidating gains made above the key 1.2800 level.

USD/JPY

Turning up.

Pivot (invalidation): 108.60

Our preference
Long positions above 108.60 with targets at 108.90 & 109.00 in extension.

Alternative scenario
Below 108.60 look for further downside with 108.45 & 108.30 as targets.

Comment
A support base at 108.60 has formed and has allowed for a temporary stabilisation. The pair has swung back to levels above both 20-period and 50-period moving averages.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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