TRENDING:

XAU/USD

Silver

USD/CHF Intraday: Limited upside

Swissquote Bank Research Team Swissquote Bank Ltd

USD/CHF

Limited upside.

Stay on top of the markets with Swissquote’s News & Analysis

Pivot (invalidation): 1.0010

Our preference
Long positions above 1.0010 with targets at 1.0045 & 1.0060 in extension.

Alternative scenario
Below 1.0010 look for further downside with 0.9990 & 0.9975 as targets.

Comment
A support base at 1.0010 has formed and has allowed for a temporary stabilisation.

USD/CAD

Caution.

Pivot (invalidation): 1.3355

Our preference
Long positions above 1.3355 with targets at 1.3390 & 1.3405 in extension.

Alternative scenario
Below 1.3355 look for further downside with 1.3335 & 1.3310 as targets.

Comment
Intraday technical indicators are mixed and call for caution.

AUD/USD

Key resistance at 0.7135.

Pivot (invalidation): 0.7135

Our preference
Short positions below 0.7135 with targets at 0.7110 & 0.7090 in extension.

Alternative scenario
Above 0.7135 look for further upside with 0.7150 & 0.7165 as targets.

Comment
The upward potential is likely to be limited by the resistance at 0.7135.

USD/TRY

The upside prevails.

Pivot (invalidation): 5.7200

Our preference
Long positions above 5.7200 with targets at 5.7550 & 5.7750 in extension.

Alternative scenario
Below 5.7200 look for further downside with 5.7000 & 5.6730 as targets.

Comment
The RSI advocates for further upside.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

EUR/USD hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.