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XAU/USD

Silver

USD/CAD intraday: The bias remains bullish

Swissquote Bank Research Team Swissquote Bank Ltd

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.

Comment
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.

Comment
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.

Comment
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.

Comment
A break below 6.8500 would trigger a drop towards 6.8420.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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