Swissquote Bank Research Team
Swissquote Bank Ltd
USD/CHF
Bullish bias above 0.9795
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Pivot (invalidation): 0.9795
Our preference
Long positions above 0.9795 with targets at 0.9820 & 0.9845 in extension.
Alternative scenario
Below 0.9795 look for further downside with 0.9770 & 0.9755 as targets.
Comment
A support base at 0.9795 has formed and has allowed for a temporary stabilisation.
USD/CAD
Bullish bias above 1.3305
Pivot (invalidation): 1.3305
Our preference
Long positions above 1.3305 with targets at 1.3340 & 1.3370 in extension.
Alternative scenario
Below 1.3305 look for further downside with 1.3280 & 1.3255 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
AUD/USD
Turning up
Pivot (invalidation): 0.6765
Our preference
Long positions above 0.6765 with targets at 0.6795 & 0.6805 in extension.
Alternative scenario
Below 0.6765 look for further downside with 0.6750 & 0.6735 as targets.
Comment
The RSI calls for a rebound.
USD/TRY
Watch 5.6970.
Pivot (invalidation): 5.6240
Our preference
Long positions above 5.6240 with targets at 5.6690 & 5.6970 in extension.
Alternative scenario
Below 5.6240 look for further downside with 5.6000 & 5.5760 as targets.
Comment
Technically the RSI is above its neutrality area at 50.
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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