USD/CHF
The upside prevails.
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Pivot (invalidation): 0.9990
Our preference
Long positions above 0.9990 with targets at 1.0025 & 1.0045 in extension.
Alternative scenario
Below 0.9990 look for further downside with 0.9975 & 0.9960 as targets.
Comment
The RSI is bullish and calls for further upside.
USD/CAD
Watch 1.3345.
Pivot (invalidation): 1.3395
Our preference
Short positions below 1.3395 with targets at 1.3360 & 1.3345 in extension.
Alternative scenario
Above 1.3395 look for further upside with 1.3415 & 1.3430 as targets.
Comment
Even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.
AUD/USD
0.6905 expected.
Pivot (invalidation): 0.6860
Our preference
Long positions above 0.6860 with targets at 0.6885 & 0.6905 in extension.
Alternative scenario
Below 0.6860 look for further downside with 0.6845 & 0.6830 as targets.
Comment
The RSI advocates for further upside.
USD/TRY
Watch 5.7970.
Pivot (invalidation): 5.8510
Our preference
Short positions below 5.8510 with targets at 5.8150 & 5.7970 in extension.
Alternative scenario
Above 5.8510 look for further upside with 5.8760 & 5.9050 as targets.
Comment
A break below 5.8150 would trigger a drop towards 5.7970.
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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