Swissquote Bank Research Team
Swissquote Bank Ltd
USD/CHF
The bias remains bullish.
Stay on top of the markets with Swissquote’s News & Analysis
Pivot (invalidation): 0.9770
Our preference
Long positions above 0.9770 with targets at 0.9810 & 0.9835 in extension.
Alternative scenario
Below 0.9770 look for further downside with 0.9755 & 0.9735 as targets.
Comment
The RSI lacks downward momentum.
USD/CAD
Key resistance at 1.3285.
Pivot (invalidation): 1.3285
Our preference
Short positions below 1.3285 with targets at 1.3255 & 1.3240 in extension.
Alternative scenario
Above 1.3285 look for further upside with 1.3310 & 1.3325 as targets.
Comment
As Long as the resistance at 1.3285 is not surpassed, the risk of the break below 1.3255 remains high.
AUD/USD
Caution.
Pivot (invalidation): 0.6770
Our preference
Long positions above 0.6770 with targets at 0.6795 & 0.6810 in extension.
Alternative scenario
Below 0.6770 look for further downside with 0.6760 & 0.6750 as targets.
Comment
Intraday technical indicators are mixed and call for caution.
USD/TRY
Continuation of the rebound.
Pivot (invalidation): 5.5680
Our preference
Long positions above 5.5680 with targets at 5.5950 & 5.6060 in extension.
Alternative scenario
Below 5.5680 look for further downside with 5.5490 & 5.5310 as targets.
Comment
The break above 5.5680 is a positive signal that has opened a path to 5.5950.
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.
Recommended Content
Editors’ Picks
USD/JPY jumps above 156.00 on BoJ's steady policy
USD/JPY has come under intense buying pressure, surging past 156.00 after the Bank of Japan kept the key rate unchanged but tweaked its policy statement. The BoJ maintained its fiscal year 2024 and 2025 core inflation forecasts, disappointing the Japanese Yen buyers.
AUD/USD consolidates gains above 0.6500 after Australian PPI data
AUD/USD is consolidating gains above 0.6500 in Asian trading on Friday. The pair capitalizes on an annual increase in Australian PPI data. Meanwhile, a softer US Dollar and improving market mood also underpin the Aussie ahead of the US PCE inflation data.
Gold price flatlines as traders look to US PCE Price Index for some meaningful impetus
Gold price lacks any firm intraday direction and is influenced by a combination of diverging forces. The weaker US GDP print and a rise in US inflation benefit the metal amid subdued USD demand. Hawkish Fed expectations cap the upside as traders await the release of the US PCE Price Index.
Stripe looks to bring back crypto payments as stablecoin market cap hits all-time high
Stripe announced on Thursday that it would add support for USDC stablecoin, as the stablecoin market exploded in March, according to reports by Cryptocompare.
US economy: Slower growth with stronger inflation
The US Dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.