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Trade War

XAU/USD

USD/CHF Intraday: The bias remains bullish

Swissquote Bank Research Team Swissquote Bank Ltd

USD/CHF

The bias remains bullish.

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Pivot (invalidation): 0.9815

Our preference
Long positions above 0.9815 with targets at 0.9855 & 0.9880 in extension.

Alternative scenario
Below 0.9815 look for further downside with 0.9785 & 0.9755 as targets.

Comment
The RSI is above its neutrality area at 50%.

USD/CAD

Further advance.

Pivot (invalidation): 1.3240

Our preference
Long positions above 1.3240 with targets at 1.3310 & 1.3340 in extension.

Alternative scenario
Below 1.3240 look for further downside with 1.3210 & 1.3180 as targets.

Comment
The RSI is bullish and calls for further advance.

AUD/USD

Under pressure.

Pivot (invalidation): 0.7215

Our preference
Short positions below 0.7215 with targets at 0.7170 & 0.7145 in extension.

Alternative scenario
Above 0.7215 look for further upside with 0.7235 & 0.7260 as targets.

Comment
The RSI calls for a new downleg.

USD/TRY

The upside prevails.

Pivot (invalidation): 5.4500

Our preference
Long positions above 5.4500 with targets at 5.5080 & 5.5450 in extension.

Alternative scenario
Below 5.4500 look for further downside with 5.4250 & 5.3950 as targets.

Comment
The RSI advocates for further upside.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

EUR/USD tests nine-day EMA support near 1.1850

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GBP/USD consolidates around 1.3600 vs. USD; looks to US CPI for fresh impetus

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