Swissquote Bank Research Team
Swissquote Bank Ltd
USD/CHF
Key resistance at 0.9880.
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Pivot (invalidation): 0.9880
Our preference
Short positions below 0.9880 with targets at 0.9855 & 0.9840 in extension.
Alternative scenario
Above 0.9880 look for further upside with 0.9900 & 0.9915 as targets.
Comment
As Long as 0.9880 is resistance, look for choppy price action with a bearish bias.
USD/CAD
Rebound expected.
Pivot (invalidation): 1.3170
Our preference
Long positions above 1.3170 with targets at 1.3190 & 1.3205 in extension.
Alternative scenario
Below 1.3170 look for further downside with 1.3155 & 1.3140 as targets.
Comment
The RSI calls for a rebound.
AUD/USD
Turning up.
Pivot (invalidation): 0.6825
Our preference
Long positions above 0.6825 with targets at 0.6855 & 0.6875 in extension.
Alternative scenario
Below 0.6825 look for further downside with 0.6810 & 0.6800 as targets.
Comment
The RSI is bullish and calls for further upside.
USD/TRY
Under pressure.
Pivot (invalidation): 5.7570
Our preference
Short positions below 5.7570 with targets at 5.7410 & 5.7330 in extension.
Alternative scenario
Above 5.7570 look for further upside with 5.7680 & 5.7800 as targets.
Comment
The RSI lacks upward momentum.
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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