TRENDING:

XAU/USD

Silver

USD/CAD Intraday: caution

Swissquote Bank Research Team Swissquote Bank Ltd

USD/CHF

Turning down.

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Pivot (invalidation): 0.9980

Our preference
Short positions below 0.9980 with targets at 0.9950 & 0.9935 in extension.

Alternative scenario
Above 0.9980 look for further upside with 0.9990 & 1.0000 as targets.

Comment
The RSI shows downside momentum.

USD/CAD

Caution.

Pivot (invalidation): 1.3220

Our preference
Short positions below 1.3220 with targets at 1.3185 & 1.3165 in extension.

Alternative scenario
Above 1.3220 look for further upside with 1.3245 & 1.3265 as targets.

Comment
The upward potential is likely to be limited by the resistance at 1.3220. Only a clear break above 1.3220 would bring about a bullish reversal.

AUD/USD

Under pressure.

Pivot (invalidation): 0.6800

Our preference
Short positions below 0.6800 with targets at 0.6770 & 0.6755 in extension.

Alternative scenario
Above 0.6800 look for further upside with 0.6810 & 0.6820 as targets.

Comment
A break below 0.6770 would trigger a drop towards 0.6755. The pair keeps testing the support at 0.6770.

USD/TRY

The upside prevails.

Pivot (invalidation): 5.8700

Our preference
Long positions above 5.8700 with targets at 5.9180 & 5.9320 in extension.

Alternative scenario B
Below 5.8700 look for further downside with 5.8520 & 5.8330 as targets.

Comment
The break above 5.8700 is a positive signal that has opened a path to 5.9180. The pair is currently supported by the ascending 20-period moving average.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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