USD/CHF: The downside prevails

USDCHF

 


 

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Pivot (invalidation): 0.9155

Our preference
Short positions below 0.9155 with targets at 0.9095 & 0.9070 in extension.

Alternative scenario
Above 0.9155 look for further upside with 0.9185 & 0.9225 as targets.

Comment
As Long as 0.9155 is resistance, look for choppy price action with a bearish bias.

 

USD/CAD: Watch 1.3300

USDCAD

Pivot (invalidation): 1.3360

Our preference
Short positions below 1.3360 with targets at 1.3320 & 1.3300 in extension.

Alternative scenario
Above 1.3360 look for further upside with 1.3375 & 1.3400 as targets.

Comment
As Long as the resistance at 1.3360 is not surpassed, the risk of the break below 1.3320 remains high.

 

AUD/USD: Bullish bias above 0.7160

AUDUSD

Pivot (invalidation): 0.7160

Our preference
Long positions above 0.7160 with targets at 0.7195 & 0.7220 in extension.

Alternative scenario
Below 0.7160 look for further downside with 0.7145 & 0.7125 as targets.

Comment
A support base at 0.7160 has formed and has allowed for a temporary stabilisation.

 

USD/TRY: Turning down

USDTRY

Pivot (invalidation): 7.0000

Our preference
Short positions below 7.0000 with targets at 6.9480 & 6.9170 in extension.

Alternative scenario
Above 7.0000 look for further upside with 7.0250 & 7.0500 as targets.

Comment
The RSI is bearish and calls for further downside.
 

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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