EUR/USD Intraday: The downside prevails

Swissquote Bank Research Team Swissquote Bank Ltd

EUR/USD

The downside prevails.

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Pivot (invalidation): 1.1180

Our preference
Short positions below 1.1180 with targets at 1.1140 & 1.1120 in extension.

Alternative scenario
Above 1.1180 look for further upside with 1.1200 & 1.1220 as targets.

Comment
As Long as 1.1180 is resistance, look for choppy price action with a bearish bias.

GBP/USD

Key resistance at 1.2760.

Pivot (invalidation): 1.2760

Our preference
Short positions below 1.2760 with targets at 1.2710 & 1.2690 in extension.

Alternative scenario
Above 1.2760 look for further upside with 1.2780 & 1.2805 as targets.

Comment
As Long as the resistance at 1.2760 is not surpassed, the risk of the break below 1.2710 remains high.

USD/JPY

Watch 110.55.

Pivot (invalidation): 110.00

Our preference
Long positions above 110.00 with targets at 110.30 & 110.55 in extension.

Alternative scenario
Below 110.00 look for further downside with 109.75 & 109.55 as targets.

Comment
The RSI is bullish and calls for further upside.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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