Setups For EUR/USD, USD/JPY, GBP/USD, AUD/USD, NZD/USD - Barclays
The following are the latest technical setups for EUR/USD, USD/JPY, GBP/USD, AUD/USD, and NZD/USD as provided by the technical strategy team at Barclays Capital.
EUR/USD: We are bearish against the 1.0980 recent highs. Resistance in the 1.1100 area is expected to help keep the overall focus lower. A move below our initial target near 1.0805 would point lower towards 1.0705. Our greater targets are towards the 1.0460 lows.
USD/JPY: No change. Friday’s recovery rally encourages our bullish view. We look for support in the 122.20 area to underpin a move through 123.75. Our initial targets are towards the 125.30/125.85 highs.
GBP/USD: We are bearish against resistance in the 1.5200 area and look for a move lower in range towards initial targets in the 1.5000 area. Our greater targets are towards 1.4855 and then the 1.4565 year-to-date lows.
AUD/USD: Monday’s low close confirms Friday’s topping candle and endorses our bearish view. We look for selling interest near 0.7440 to cap a move lower towards targets near 0.7170 and then 0.7070 ahead of the 0.7015 November lows.
NZD/USD: Yesterday’s sell-off encourages our bearish view. We are looking for selling interest near 0.6795 to cap a move lower towards 0.6430 and then lower towards the 0.6235 year-to-date lows.
