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Trade War

XAU/USD

USD/CAD Intraday: Key resistance at 1.3130

Swissquote Bank Research Team Swissquote Bank Ltd

USD/CHF

Key resistance at 0.9980.

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Pivot (invalidation): 0.9980

Our preference
Short positions below 0.9980 with targets at 0.9950 & 0.9935 in extension.

Alternative scenario
Above 0.9980 look for further upside with 1.0000 & 1.0030 as targets.

Comment
As Long as 0.9980 is resistance, look for choppy price action with a bearish bias.

USD/CAD

Key resistance at 1.3130.

Pivot (invalidation): 1.3130

Our preference
Short positions below 1.3130 with targets at 1.3075 & 1.3045 in extension.

Alternative scenario
Above 1.3130 look for further upside with 1.3165 & 1.3200 as targets.

Comment
A break below 1.3075 would trigger a drop towards 1.3045.

AUD/USD

The downside prevails.

Pivot (invalidation): 0.7090

Our preference
Short positions below 0.7090 with targets at 0.7055 & 0.7040 in extension.

Alternative scenario
Above 0.7090 look for further upside with 0.7110 & 0.7125 as targets.

Comment
The RSI calls for a drop.

USD/TRY

Bullish bias above 5.6400.

Pivot (invalidation): 5.6400

Our preference
Long positions above 5.6400 with targets at 5.6900 & 5.7150 in extension.

Alternative scenario
Below 5.6400 look for further downside with 5.6000 & 5.5600 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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