Swissquote Bank Research Team
Swissquote Bank Ltd
USD/CHF
Towards 0.9830
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Pivot (invalidation): 0.9755
Our preference
Long positions above 0.9755 with targets at 0.9810 & 0.9830 in extension.
Alternative scenario
Below 0.9755 look for further downside with 0.9735 & 0.9720 as targets.
Comment
The RSI calls for a new upleg.
USD/CAD
Bullish bias above 1.3300
Pivot (invalidation): 1.3300
Our preference
Long positions above 1.3300 with targets at 1.3335 & 1.3355 in extension.
Alternative scenario
Below 1.3300 look for further downside with 1.3280 & 1.3265 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
AUD/USD
Turning up
Pivot (invalidation): 0.6770
Our preference
Long positions above 0.6770 with targets at 0.6800 & 0.6815 in extension.
Alternative scenario
Below 0.6770 look for further downside with 0.6760 & 0.6750 as targets.
Comment
The RSI calls for a rebound.
USD/TRY
5.5350 expected
Pivot (invalidation): 5.5790
Our preference
Short positions below 5.5790 with targets at 5.5530 & 5.5350 in extension.
Alternative scenario
Above 5.5790 look for further upside with 5.5990 & 5.6280 as targets.
Comment
A break below 5.5530 would trigger a drop towards 5.5350.
This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.
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