USD/CHF: Caution




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Pivot (invalidation): 0.9415

Our preference
Long positions above 0.9415 with targets at 0.9440 & 0.9450 in extension.

Alternative scenario
Below 0.9415 look for further downside with 0.9405 & 0.9390 as targets.

A support base at 0.9415 has formed and has allowed for a temporary stabilisation.


USD/CAD: The bias remains bullish


Pivot (invalidation): 1.3570

Our preference
Long positions above 1.3570 with targets at 1.3625 & 1.3650 in extension.

Alternative scenario
Below 1.3570 look for further downside with 1.3545 & 1.3520 as targets.

The break above 1.3570 is a positive signal that has opened a path to 1.3625.


AUD/USD: Under pressure


Pivot (invalidation): 0.6980

Our preference
Short positions below 0.6980 with targets at 0.6920 & 0.6900 in extension.

Alternative scenario
Above 0.6980 look for further upside with 0.7000 & 0.7020 as targets.

As Long as 0.6980 is resistance, look for choppy price action with a bearish bias.


USD/TRY: Watch 6.8420


Pivot (invalidation): 6.8650

Our preference
Short positions below 6.8650 with targets at 6.8500 & 6.8420 in extension.

Alternative scenario
Above 6.8650 look for further upside with 6.8720 & 6.8820 as targets.

A break below 6.8500 would trigger a drop towards 6.8420.

This report has been prepared by AC Markets 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 AC Markets personnel at any given time. ACM 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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