Swissquote Bank Research Team
Swissquote Bank Ltd
USD/CHF
Bullish bias above 1.0085.
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Pivot (invalidation): 1.0085
Our preference
Long positions above 1.0085 with targets at 1.0110 & 1.0125 in extension.
Alternative scenario
Below 1.0085 look for further downside with 1.0070 & 1.0050 as targets.
Comment
The break above 1.0085 is a positive signal that has opened a path to 1.0110.
USD/CAD
Expect 1.3505.
Pivot (invalidation): 1.3440
Our preference
Long positions above 1.3440 with targets at 1.3485 & 1.3505 in extension.
Alternative scenario
Below 1.3440 look for further downside with 1.3415 & 1.3400 as targets.
Comment
The RSI is bullish and calls for further upside.
AUD/USD
Watch 0.6865.
Pivot (invalidation): 0.6905
Our preference
Short positions below 0.6905 with targets at 0.6880 & 0.6865 in extension.
Alternative scenario
Above 0.6905 look for further upside with 0.6920 & 0.6935 as targets.
Comment
A break below 0.6880 would trigger a drop towards 0.6865.
USD/TRY
The bias remains bullish.
Pivot (invalidation): 6.0340
Our preference
Long positions above 6.0340 with targets at 6.0890 & 6.1110 in extension.
Alternative scenario
Below 6.0340 look for further downside with 5.9900 & 5.9530 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
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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