Setups: EUR/USD, USD/JPY, GBP/USD, AUD/USD, NZD/USD, USD/CAD - Barclays
The following are the latest technical setups for EUR/USD, USD/JPY, GBP/USD, AUD/USD, NZD/USD, and USD/CAD as provided by the technical strategy team at Barclays Capital.
EUR/USD: We are still overall bearish and look for a move lower towards initial targets towards 1.0710. Below there would open next targets near 1.0640 and then the 1.0520 range lows.
USD/JPY: We look for selling interest near 118.90 to keep capping a move lower towards targets near 115.95/115.65. Overall, we expect a confluence of resistance in the 120.65 area to help keep the greater focus lower.
GBP/USD: We are bearish and expect resistance in the 1.4520/65 area to help keep the focus lower. Below nearby support at 1.4170 would encourage our bearish view towards targets near 1.4040 and then the 1.3930 area.
AUD/USD: We are clinging to our short-term bearish view while resistance in the 0.7050 area caps the daily close. Overall, it would take a move above the 0.7100 area to make us more bullish. Breaking below 0.6915 would signal lower towards 0.6825 and then the 0.6770 area.
NZD/USD: No change. We are bearish and look for selling interest near 0.6590 to cap a move lower. Initial targets are towards 0.6290 and then 0.6235, the 2015 lows.
USD/CAD: Sideways chop around 1.4200, the 21-dma is testing our bullish resolve. It would take a move below support in the 1.4000 area to make us turn more bearish. Until then, we expect to see further gains towards initial targets near 1.4540 and then the 1.4690 high.
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