USD/CHF: Target 0.9290
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Pivot (invalidation): 0.9340
Our preference
Short positions below 0.9340 with targets at 0.9310 & 0.9290 in extension.
Alternative scenario
Above 0.9340 look for further upside with 0.9355 & 0.9375 as targets.
Comment
The RSI lacks upward momentum.
USD/CAD: Under pressure
Pivot (invalidation): 1.3475
Our preference
Short positions below 1.3475 with targets at 1.3420 & 1.3400 in extension.
Alternative scenario
Above 1.3475 look for further upside with 1.3500 & 1.3520 as targets.
Comment
As Long as the resistance at 1.3475 is not surpassed, the risk of the break below 1.3420 remains high.
AUD/USD: Aim @ 0.7180
Pivot (invalidation): 0.7105
Our preference
Long positions above 0.7105 with targets at 0.7150 & 0.7180 in extension.
Alternative scenario
Below 0.7105 look for further downside with 0.7080 & 0.7060 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
USD/TRY: Key resistance at 6.8390
Pivot (invalidation): 6.8390
Our preference
Short positions below 6.8390 with targets at 6.8160 & 6.8090 in extension.
Alternative scenario
Above 6.8390 look for further upside with 6.8480 & 6.8590 as targets.
Comment
Even though a continuation of the technical rebound 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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