USDCAD Levels: Turning down

Swissquote Bank Research Team Swissquote Bank Ltd

USD/CHF

Under pressure.

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Pivot (invalidation): 0.9955

Our preference
Short positions below 0.9955 with targets at 0.9915 & 0.9895 in extension.

Alternative scenario
Above 0.9955 look for further upside with 0.9975 & 0.9995 as targets.

Comment
As Long as 0.9955 is resistance, look for choppy price action with a bearish bias.

USD/CAD

Turning down.

Pivot (invalidation): 1.3150

Our preference
Short positions below 1.3150 with targets at 1.3095 & 1.3065 in extension.

Alternative scenario
Above 1.3150 look for further upside with 1.3175 & 1.3200 as targets.

Comment
The RSI shows downside momentum.

AUD/USD

Target 0.7290.

Pivot (invalidation): 0.7225

Our preference
Long positions above 0.7225 with targets at 0.7290 & 0.7320 in extension.

Alternative scenario
Below 0.7225 look for further downside with 0.7200 & 0.7180 as targets.

Comment
The RSI is supported by a rising trend line.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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