EURUSD Levels: The downside prevails

Swissquote Bank Research Team Swissquote Bank Ltd

EUR/USD

The downside prevails.

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Pivot (invalidation): 1.1440

Our preference
Short positions below 1.1440 with targets at 1.1340 & 1.1300 in extension.

Alternative scenario
Above 1.1440 look for further upside with 1.1485 & 1.1535 as targets.

Comment
The RSI lacks upward momentum.

GBP/USD

Target 1.2720.

Pivot (invalidation): 1.2790

Our preference
Short positions below 1.2790 with targets at 1.2720 & 1.2680 in extension.

Alternative scenario
Above 1.2790 look for further upside with 1.2835 & 1.2880 as targets.

Comment
As Long as the resistance at 1.2790 is not surpassed, the risk of the break below 1.2720 remains high.

USD/JPY

The downside prevails.

Pivot (invalidation): 110.70

Our preference
Short positions below 110.70 with targets at 110.05 & 109.65 in extension.

Alternative scenario
Above 110.70 look for further upside with 111.00 & 111.20 as targets.

Comment
A break below 110.05 would trigger a drop towards 109.65.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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