EUR/USD The upside prevails
Pivot (invalidation): 1.1480
Our preference
Long positions above 1.1480 with targets at 1.1575 and 1.1600 in extension.
Alternative scenario
Below 1.1480 look for further downside with 1.1450 and 1.1430 as targets.
Comment
The RSI calls for a rebound.
GBP/USD The upside prevails
Pivot (invalidation): 1.2790
Our preference
Long positions above 1.2790 with targets at 1.2855 and 1.2885 in extension.
Alternative scenario
Below 1.2790 look for further downside with 1.2755 and 1.2725 as targets.
Comment
The RSI is supported by a bullish trend line.
USD/JPY The downside prevails
Pivot (invalidation): 110.30
Our preference
Short positions below 110.30 with targets at 109.50 and 109.30 in extension.
Alternative scenario
Above 110.30 look for further upside with 110.50 and 110.70 as targets.
Comment
As Long as 110.30 is resistance, likely decline to 109.50.
USD/CHF Under pressure
Pivot (invalidation): 0.9910
Our preference
Short positions below 0.9910 with targets at 0.9865 and 0.9840 in extension.
Alternative scenario
Above 0.9910 look for further upside with 0.9930 and 0.9950 as targets.
Comment
The RSI is bearish and calls for further decline.
USD/CAD Under pressure
Pivot (invalidation): 1.3060
Our preference
Short positions below 1.3060 with targets at 1.3010 and 1.2995 in extension.
Alternative scenario
Above 1.3060 look for further upside with 1.3095 and 1.3125 as targets.
Comment
As Long as 1.3060 is resistance, expect a return to 1.3010.
AUD/USD Continuation of the rebound
Pivot (invalidation): 0.7315
Our preference
Long positions above 0.7315 with targets at 0.7380 and 0.7395 in extension.
Alternative scenario
Below 0.7315 look for further downside with 0.7285 and 0.7265 as targets.
Comment
The RSI calls for a bounce.
EUR/GBP Further advance
Pivot (invalidation): 0.8960
Our preference
Long positions above 0.8960 with targets at 0.9000 and 0.9010 in extension.
Alternative scenario
Below 0.8960 look for further downside with 0.8940 and 0.8925 as targets.
Comment
The RSI lacks downward momentum.
EUR/CHF Further advance
Pivot (invalidation): 1.1365
Our preference
Long positions above 1.1365 with targets at 1.1410 and 1.1435 in extension.
Alternative scenario
Below 1.1365 look for further downside with 1.1340 and 1.1325 as targets.
Comment
The RSI is mixed with a bullish bias.
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