TRENDING:

XAU/USD

Silver

USD/CAD Intraday: Supported by a rising trend line

Swissquote Bank Research Team Swissquote Bank Ltd

USD/CHF

Bullish bias above 1.0020.

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Pivot (invalidation): 1.0020

Our preference
Long positions above 1.0020 with targets at 1.0055 & 1.0070 in extension.

Alternative scenario
Below 1.0020 look for further downside with 1.0000 & 0.9985 as targets.

Comment
The RSI calls for a bounce.

USD/CAD

Supported by a rising trend line.

Pivot (invalidation): 1.3275

Our preference
Long positions above 1.3275 with targets at 1.3330 & 1.3355 in extension.

Alternative scenario
Below 1.3275 look for further downside with 1.3255 & 1.3230 as targets.

Comment
The RSI lacks downward momentum.

AUD/USD

Key resistance at 0.7090.

Pivot (invalidation): 0.7090

Our preference
Short positions below 0.7090 with targets at 0.7050 & 0.7035 in extension.

Alternative scenario
Above 0.7090 look for further upside with 0.7105 & 0.7120 as targets.

Comment
A break below 0.7050 would trigger a drop towards 0.7035.

USD/TRY

Bullish bias above 5.2550.

Pivot (invalidation): 5.2550

Our preference
Long positions above 5.2550 with targets at 5.2960 & 5.3220 in extension.

Alternative scenario
Below 5.2550 look for further downside with 5.2390 & 5.2140 as targets.

Comment
The RSI is above its neutrality area at 50%.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

EUR/USD extends its optimism past 1.1900

EUR/USD retains a firm underlying bid, surpassing the 1.1900 mark as the NA session draws to a close on Monday. The pair’s persistent uptrend comes as the US Dollar remains on the defensive, with traders staying cautious ahead of upcoming US NFP prints and CPI data.

GBP/USD hits three-day peaks, targets 1.3700

GBP/USD is clocking decent gains at the start of the week, advancing to three-day highs near 1.3670 and building on Friday’s solid performance. The better tone in the British Pound comes on the back of the intense sekk-off in the Greenback and despite re-emerging signs of a fresh government crisis in the UK.

Gold picks up pace, retargets $5,100

Gold gathers fresh steam, challenging daily highs en route to the $5,100 mark per troy ounce in the latter part of Monday’s session. The precious metal finds support from fresh signs of continued buying by the PBoC, while expectations that the Fed could lean more dovish also collaborate with the uptick.

XRP struggles around $1.40 despite institutional inflows

Ripple (XRP) is extending its intraday decline to around $1.40 at the time of writing on Monday amid growing pressure from the retail market and risk-off sentiment that continues to keep investors on the sidelines.

Japanese PM Takaichi nabs unprecedented victory – US data eyed this week

I do not think I would be exaggerating to say that Japanese Prime Minister Sanae Takaichi’s snap general election gamble paid off over the weekend – and then some. This secured the Liberal Democratic Party (LDP) an unprecedented mandate just three months into her tenure.