TRENDING:

XAU/USD

Silver

USD/CAD analysis: The downside prevails

Swissquote Bank Research Team Swissquote Bank Ltd

USD/CHF

Turning down.

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Pivot (invalidation): 0.9795

Our preference
Short positions below 0.9795 with targets at 0.9755 & 0.9740 in extension.

Alternative scenario
Above 0.9795 look for further upside with 0.9815 & 0.9830 as targets.

Comment
As Long as the resistance at 0.9795 is not surpassed, the risk of the break below 0.9755 remains high.

USD/CAD

The downside prevails.

Pivot (invalidation): 1.4145

Our preference
Short positions below 1.4145 with targets at 1.4035 & 1.4010 in extension.

Alternative scenario
Above 1.4145 look for further upside with 1.4175 & 1.4210 as targets.

Comment
The RSI calls for a new downleg.

AUD/USD

The upside prevails.

Pivot (invalidation): 0.6080

Our preference
Long positions above 0.6080 with targets at 0.6155 & 0.6185 in extension.

Alternative scenario
Below 0.6080 look for further downside with 0.6060 & 0.6040 as targets.

Comment
The RSI is bullish and calls for further upside.

USD/TRY

Watch 6.8150.

Pivot (invalidation): 6.7380

Our preference
Long positions above 6.7380 with targets at 6.7910 & 6.8150 in extension.

Alternative scenario
Below 6.7380 look for further downside with 6.7100 & 6.6770 as targets.

Comment
The RSI has just landed on its neutrality area at 50% and is turning up.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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