EURUSD Levels: Under pressure

Swissquote Bank Research Team Swissquote Bank Ltd

EUR/USD

Under pressure.

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Pivot (invalidation): 1.1550

Our preference
Short positions below 1.1550 with targets at 1.1510 & 1.1490 in extension.

Alternative scenario
Above 1.1550 look for further upside with 1.1575 & 1.1600 as targets.

Comment
As Long as 1.1550 is resistance, look for choppy price action with a bearish bias.

GBP/USD

The downside prevails.

Pivot (invalidation): 1.2860

Our preference
Short positions below 1.2860 with targets at 1.2800 & 1.2770 in extension.

Alternative scenario
Above 1.2860 look for further upside with 1.2900 & 1.2930 as targets.

Comment
The break below 1.2860 is a negative signal that has opened a path to 1.2800.

USD/JPY

Watch 110.85.

Pivot (invalidation): 111.20

Our preference
Short positions below 111.20 with targets at 110.85 & 110.70 in extension.

Alternative scenario
Above 111.20 look for further upside with 111.45 & 111.60 as targets.

Comment
A break below 110.85 would trigger a drop towards 110.70.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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