USD/CHF: The bias remains bullish
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Pivot (invalidation): 0.9265
Our preference
Long positions above 0.9265 with targets at 0.9300 & 0.9325 in extension.
Alternative scenario
Below 0.9265 look for further downside with 0.9245 & 0.9225 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
USD/CAD: Turning down
Pivot (invalidation): 1.3400
Our preference
Short positions below 1.3400 with targets at 1.3370 & 1.3350 in extension.
Alternative scenario
Above 1.3400 look for further upside with 1.3415 & 1.3430 as targets.
Comment
The RSI is bearish and calls for further downside.
AUD/USD: Continuation of the rebound
Pivot (invalidation): 0.7025
Our preference
Long positions above 0.7025 with targets at 0.7085 & 0.7110 in extension.
Alternative scenario
Below 0.7025 look for further downside with 0.7000 & 0.6980 as targets.
Comment
The break above 0.7025 is a positive signal that has opened a path to 0.7085.
USD/TRY: Caution
Pivot (invalidation): 7.6400
Our preference
Long positions above 7.6400 with targets at 7.7150 & 7.7550 in extension.
Alternative scenario
Below 7.6400 look for further downside with 7.6100 & 7.5850 as targets.
Comment
Intraday technical indicators are mixed and call for caution.
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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