EUR/USD Intraday: the downside prevails

Swissquote Bank Research Team Swissquote Bank Ltd

EUR/USD

The downside prevails.

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Pivot (invalidation): 1.1155

Our preference
Short positions below 1.1155 with targets at 1.1120 & 1.1110 in extension.

Alternative scenario
Above 1.1155 look for further upside with 1.1170 & 1.1185 as targets.

Comment
The RSI shows downside momentum.

GBP/USD

Key resistance at 1.3150.

Pivot (invalidation): 1.3150

Our preference
Short positions below 1.3150 with targets at 1.3040 & 1.3000 in extension.

Alternative scenario
Above 1.3150 look for further upside with 1.3210 & 1.3255 as targets.

Comment
As Long as 1.3150 is resistance, look for choppy price action with a bearish bias.

USD/JPY

Under pressure.

Pivot (invalidation): 109.55

Our preference
Short positions below 109.55 with targets at 109.25 & 109.10 in extension.

Alternative scenario
Above 109.55 look for further upside with 109.70 & 109.85 as targets.

Comment
The RSI lacks upward momentum.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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