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.
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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