Swissquote Bank Research Team
Swissquote Bank Ltd
USD/CHF: Turning down
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Pivot (invalidation): 0.9090
Our preference
Short positions below 0.9090 with targets at 0.9050 & 0.9035 in extension.
Alternative scenario
Above 0.9090 look for further upside with 0.9110 & 0.9130 as targets.
Comment
The RSI shows downside momentum.
USD/CAD: Turning down
Pivot (invalidation): 1.3185
Our preference
Short positions below 1.3185 with targets at 1.3135 & 1.3115 in extension.
Alternative scenario
Above 1.3185 look for further upside with 1.3210 & 1.3230 as targets.
Comment
The RSI calls for a new downleg.
AUD/USD: Turning up
Pivot (invalidation): 0.7285
Our preference
Long positions above 0.7285 with targets at 0.7325 & 0.7350 in extension.
Alternative scenario
Below 0.7285 look for further downside with 0.7260 & 0.7245 as targets.
Comment
The RSI calls for a bounce.
USD/TRY: Turning down
Pivot (invalidation): 7.5000
Our preference
Short positions below 7.5000 with targets at 7.4650 & 7.4510 in extension.
Alternative scenario
Above 7.5000 look for further upside with 7.5100 & 7.5210 as targets.
Comment
The RSI lacks upward momentum.
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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Editors’ Picks
AUD/USD remained bid above 0.6500
AUD/USD extended further its bullish performance, advancing for the fourth session in a row on Thursday, although a sustainable breakout of the key 200-day SMA at 0.6526 still remain elusive.
EUR/USD faces a minor resistance near at 1.0750
EUR/USD quickly left behind Wednesday’s small downtick and resumed its uptrend north of 1.0700 the figure, always on the back of the persistent sell-off in the US Dollar ahead of key PCE data on Friday.
Gold holds around $2,330 after dismal US data
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Bitcoin price continues to get rejected from $65K resistance as SEC delays decision on spot BTC ETF options
Bitcoin (BTC) price has markets in disarray, provoking a broader market crash as it slumped to the $62,000 range on Thursday. Meanwhile, reverberations from spot BTC exchange-traded funds (ETFs) continue to influence the market.
US economy: slower growth with stronger inflation
The dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.