TRENDING:

XAU/USD

Silver

USD/CAD Intraday: key resistance at 1.3300

Swissquote Bank Research Team Swissquote Bank Ltd

USD/CHF

Towards 0.9995.

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Pivot (invalidation): 0.9950

Our preference
Long positions above 0.9950 with targets at 0.9975 & 0.9995 in extension.

Alternative scenario
Below 0.9950 look for further downside with 0.9935 & 0.9920 as targets.

Comment
The RSI is bullish and calls for further upside.

USD/CAD

Key resistance at 1.3300.

Pivot (invalidation): 1.3300

Our preference
Short positions below 1.3300 with targets at 1.3280 & 1.3265 in extension.

Alternative scenario
Above 1.3300 look for further upside with 1.3320 & 1.3335 as targets.

Comment
The upward potential is likely to be limited by the resistance at 1.3300. The pair has repeatedly failed to break above the key resistance at 1.3300 (around the descending 50-period moving average).

AUD/USD

Further advance.

Pivot (invalidation): 0.6755

Our preference
Long positions above 0.6755 with targets at 0.6790 & 0.6805 in extension.

Alternative scenario
Below 0.6755 look for further downside with 0.6740 & 0.6730 as targets.

Comment
The RSI is bullish and calls for further advance. The pair has crossed above the upper Bollinger band (bands widening) calling for acceleration to the upside.

USD/TRY

Turning down.

Pivot (invalidation): 5.8620

Our preference
Short positions below 5.8620 with targets at 5.8150 & 5.7860 in extension.

Alternative scenario
Above 5.8620 look for further upside with 5.8950 & 5.9210 as targets.

Comment
The break above 5.8620 is a positive signal that has opened a path to 5.8150. The descending 50-period moving is maintaining the pair's intraday bearishness.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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