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XAU/USD

Silver

USD/CAD intraday: The downside prevails

Swissquote Bank Research Team Swissquote Bank Ltd

USD/CHF: Under pressure

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Pivot (invalidation): 0.9485

Our preference
Short positions below 0.9485 with targets at 0.9460 & 0.9445 in extension.

Alternative scenario
Above 0.9485 look for further upside with 0.9500 & 0.9515 as targets.

Comment
A break below 0.9460 would trigger a drop towards 0.9445.

USD/CAD: The downside prevails

Pivot (invalidation): 1.3595

Our preference
Short positions below 1.3595 with targets at 1.3550 & 1.3530 in extension.

Alternative scenario
Above 1.3595 look for further upside with 1.3615 & 1.3640 as targets.

Comment
Even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.

AUD/USD: The upside prevails

Pivot (invalidation): 0.6885

Our preference
Long positions above 0.6885 with targets at 0.6915 & 0.6930 in extension.

Alternative scenario
Below 0.6885 look for further downside with 0.6860 & 0.6840 as targets.

Comment
Technically the RSI is above its neutrality area at 50.

USD/TRY: Key resistance at 6.8590

Pivot (invalidation): 6.8590

Our preference
Short positions below 6.8590 with targets at 6.8350 & 6.8250 in extension.

Alternative scenario
Above 6.8590 look for further upside with 6.8720 & 6.8840 as targets.

Comment
The upward potential is likely to be limited by the resistance at 6.8590.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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