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.
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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