Tech Setups For EUR/USD, USD/JPY, GBP/USD, AUD/USD - Barclays
The following are the latest technical setups for EUR/USD, USD/JPY, GBP/USD, and AUD/USD as provided by the technical strategy team at Barclays Capital.
EUR/USD: We are bearish and would keep fading upticks in range against resistance in the 1.1320 area. Our initial downside targets are towards 1.1105 and then 1.1085. Below 1.1085 would confirm downside traction towards the 1.1000/20 area and further out towards 1.0810.
USD/JPY: We are overall bullish and would buy dips within range against the 118.65 lows. A move above resistance in the 121.30 area is needed to signal upside traction towards our initial targets near 121.75. Beyond there, we are looking for a move higher towards the 123.35 area.
GBP/USD: Our bullish view was encouraged by the break above our initial targets near 1.5315. A move above our next targets in the 1.5385 area would signal higher towards 1.5540.
AUD/USD: We have turned bearish and expect the range highs near 0.7280 to provide selling interest for a move lower towards initial targets near 0.7085. Below 0.7085 would open the 0.6895 year-to-date lows. Further out we are targeting the 0.6770 area.
