TRENDING:

XAU/USD

Silver

USDTRY Intraday: Capped by a negative trend line

Swissquote Bank Research Team Swissquote Bank Ltd

USD/CHF

Bullish bias above 0.9895.

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Pivot (invalidation): 0.9895

Our preference
Long positions above 0.9895 with targets at 0.9930 & 0.9955 in extension.

Alternative scenario
Below 0.9895 look for further downside with 0.9880 & 0.9865 as targets.

Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

USD/CAD

Caution.

Pivot (invalidation): 1.3015

Our preference
Long positions above 1.3015 with targets at 1.3050 & 1.3070 in extension.

Alternative scenario
Below 1.3015 look for further downside with 1.3000 & 1.2980 as targets.

Comment
A support base at 1.3015 has formed and has allowed for a temporary stabilisation.

AUD/USD

Key resistance at 0.7120.

Pivot (invalidation): 0.7120

Our preference
Short positions below 0.7120 with targets at 0.7095 & 0.7080 in extension.

Alternative scenario
Above 0.7120 look for further upside with 0.7130 & 0.7140 as targets.

Comment
Technically the RSI is below its neutrality area at 50.

USD/TRY

Capped by a negative trend line.

Pivot (invalidation): 5.9380

Our preference
Short positions below 5.9380 with targets at 5.8380 & 5.7680 in extension.

Alternative scenario
Above 5.9380 look for further upside with 6.0055 & 6.0810 as targets.

Comment
A break below 5.8380 would trigger a drop towards 5.7680.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

EUR/USD hits two-day highs near 1.1820

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