SETUPS: USD/JPY, GBP/USD, USD/CHF, EUR/CHF, AUD/USD, NZD/USD - BARCLAYS
The following are the latest technical setups for USD/JPY, GBP/USD, USD/CHF, EUR/CHF, AUD/USD, and NZD/USD as provided by the technical strategy team at Barclays Capital.
USD/JPY: Yesterday’s low close endorses the prior key reversal day and our bearish view. We are looking for a move back towards the 110.65 lows and then our targets in the 110.35/05 area.
GBP/USD: Wednesday’s ‘‘shooting star’’ candle signals buyer capitulation ahead of resistance near the 1.4515 range highs and points lower in range. Our downside targets are near 1.4050 and then towards the 1.3835 year-to-date low.
USD/CHF: We have turned neutral from bearish, following yesterday’s bullish ‘‘hammer’’ candle. A positive close today would encourage us to turn more bullish for a move higher towards the 0.9790/0.9820 area (range highs/200-dma).
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EUR/CHF: The close above resistance near 1.0925 encourages our bullish view towards targets near 1.1025 and then 1.1060. A move above 1.1060 would open the 1.1200 highs.
AUD/USD: The move above our initial targets near 0.7690 encourages our bullish view. We are now looking for further upside towards greater targets in the 0.7875 area.
NZD/USD: We are neutral following the unexpected break above 0.6900. Risk is for a squeeze higher towards 0.6990. The greater trend is bearish below the 0.7175 former range lows.
