Swissquote Bank Research Team
Swissquote Bank Ltd
USD/CHF
Under pressure.
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Pivot (invalidation): 0.9950
Our preference
Short positions below 0.9950 with targets at 0.9910 & 0.9880 in extension.
Alternative scenario
Above 0.9950 look for further upside with 0.9965 & 0.9985 as targets.
Comment
The RSI advocates for further decline.
USD/CAD
Intraday support around 1.3385.
Pivot (invalidation): 1.3385
Our preference
Long positions above 1.3385 with targets at 1.3420 & 1.3445 in extension.
Alternative scenario
Below 1.3385 look for further downside with 1.3370 & 1.3345 as targets.
Comment
The RSI lacks downward momentum.
AUD/USD
Bullish bias above 0.7180.
Pivot (invalidation): 0.7180
Our preference
Long positions above 0.7180 with targets at 0.7200 & 0.7215 in extension.
Alternative scenario
Below 0.7180 look for further downside with 0.7165 & 0.7150 as targets.
Comment
The RSI is above its neutrality area at 50%.
USD/TRY
The upside prevails.
Pivot (invalidation): 5.3610
Our preference
Long positions above 5.3610 with targets at 5.4050 & 5.4220 in extension.
Alternative scenario
Below 5.3610 look for further downside with 5.3450 & 5.3210 as targets.
Comment
The RSI calls for a new upleg.
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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Editors’ Picks
AUD/USD remained bid above 0.6500
AUD/USD extended further its bullish performance, advancing for the fourth session in a row on Thursday, although a sustainable breakout of the key 200-day SMA at 0.6526 still remain elusive.
EUR/USD faces a minor resistance near at 1.0750
EUR/USD quickly left behind Wednesday’s small downtick and resumed its uptrend north of 1.0700 the figure, always on the back of the persistent sell-off in the US Dollar ahead of key PCE data on Friday.
Gold holds around $2,330 after dismal US data
Gold fell below $2,320 in the early American session as US yields shot higher after the data showed a significant increase in the US GDP price deflator in Q1. With safe-haven flows dominating the markets, however, XAU/USD reversed its direction and rose above $2,340.
Bitcoin price continues to get rejected from $65K resistance as SEC delays decision on spot BTC ETF options
Bitcoin (BTC) price has markets in disarray, provoking a broader market crash as it slumped to the $62,000 range on Thursday. Meanwhile, reverberations from spot BTC exchange-traded funds (ETFs) continue to influence the market.
US economy: slower growth with stronger inflation
The 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.