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 bearish and look for a move towards initial downside targets in the 1.1090/60 area. It would take a move below 1.1060 to make us more bearish and signal a deeper setback towards 1.0710.
USD/JPY: We look for selling interest in the 115.05 to provide a cap for a move back in range. Our initial downside targets are in the 110.35/05 area. A move below there would encourage our bearish view towards greater targets near 106.00.
GBP/USD: Our bearish view was encouraged by the close below support in the 1.4350 area. Our next downside targets are towards the 1.4150 area and then the 1.4080 lows.
AUD/USD: We are bearish and would look to sell against the 0.7245 range highs. A move below initial targets near 0.7000 would signal lower towards our greater targets in the 0.6915 area.
NZD/USD: The break below support near 0.6560 signals a small topping pattern under the 0.6755 highs and encourages our bearish view towards targets near 0.6415 and then the 0.6345 lows.
USD/CAD: We expect the 1.3640 range lows to underpin a move higher. Above initial targets near 1.4020 would signal higher towards 1.4105 and then 1.4170.
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