USD/CHF
Caution.
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Pivot (invalidation): 0.9960
Our preference
Long positions above 0.9960 with targets at 0.9985 & 1.0000 in extension.
Alternative scenario
Below 0.9960 look for further downside with 0.9940 & 0.9925 as targets.
Comment
A support base at 0.9960 has formed and has allowed for a temporary stabilisation.
USD/CAD
The bias remains bullish.
Pivot (invalidation): 1.3270
Our preference
Long positions above 1.3270 with targets at 1.3310 & 1.3340 in extension.
Alternative scenario
Below 1.3270 look for further downside with 1.3250 & 1.3230 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
AUD/USD
0.6735 expected.
Pivot (invalidation): 0.6820
Our preference
Short positions below 0.6820 with targets at 0.6760 & 0.6735 in extension.
Alternative scenario
Above 0.6820 look for further upside with 0.6840 & 0.6855 as targets.
Comment
The RSI has broken down its 30 level.
USD/TRY
Key resistance at 5.6950.
Pivot (invalidation): 5.6950
Our preference
Short positions below 5.6950 with targets at 5.6640 & 5.6500 in extension.
Alternative scenario
Above 5.6950 look for further upside with 5.7110 & 5.7270 as targets.
Comment
The index currently faces a challenging resistance area at 5.6950.
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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