Swissquote Bank Research Team
Swissquote Bank Ltd
USD/CHF
Under pressure.
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Pivot (invalidation): 0.9780
Our preference
Short positions below 0.9780 with targets at 0.9720 & 0.9700 in extension.
Alternative scenario
Above 0.9780 look for further upside with 0.9815 & 0.9845 as targets.
Comment
A break below 0.9720 would trigger a drop towards 0.9700.
USD/CAD
Key resistance at 1.4290.
Pivot (invalidation): 1.4290
Our preference
Short positions below 1.4290 with targets at 1.4180 & 1.4130 in extension.
Alternative scenario
Above 1.4290 look for further upside with 1.4345 & 1.4410 as targets.
Comment
As Long as the resistance at 1.4290 is not surpassed, the risk of the break below 1.4180 remains high.
AUD/USD
Caution.
Pivot (invalidation): 0.5935
Our preference
Short positions below 0.5935 with targets at 0.5860 & 0.5805 in extension.
Alternative scenario
Above 0.5935 look for further upside with 0.5975 & 0.6020 as targets.
Comment
The upward potential is likely to be limited by the resistance at 0.5935.
USD/TRY
Bullish bias above 6.4090.
Pivot (invalidation): 6.4090
Our preference
Long positions above 6.4090 with targets at 6.4760 & 6.5100 in extension.
Alternative scenario
Below 6.4090 look for further downside with 6.3720 & 6.3410 as targets.
Comment
A support base at 6.4090 has formed and has allowed for a temporary stabilisation.
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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