Setups: EUR/USD, USD/JPY, USD/CHF, AUD/USD, NZD/USD, USD/CAD - Barclays
The following are the latest technical setups for EUR/USD, USD/JPY, USD/CHF, AUD/USD, NZD/USD, and USD/CAD as provided by the technical strategy team at Barclays Capital.
EUR/USD: Our bearish view was encouraged by Friday’s sell-off. We are looking for a move towards initial targets near 1.0850 to extend to 1.0710 lows. Selling interest is in the 1.1050 area, near the 200-dma.
USD/JPY: We would prefer to fade upticks within context of the broader bearish trend. Selling interest is expected in the 115.05 area. A move below 110.95 would endorse our bearish view towards our initial targets near 110.35/05.
USD/CHF: We are neutral in the short term. A break above 1.0005 would point to a resumption of the February rally towards 1.0130 and then the 1.0260 highs. A close below 0.9875 would signal a squeeze towards 0.9760, the 200-dma before buyers emerge.
AUD/USD: Our bearish view was encouraged by Friday’s key reversal day. We expect resistance near 0.7260, the 200-dma to cap upticks and look for a move below initial targets near 0.7070 to point lower towards 0.6970 and then the year-to-date lows near 0.6825.
NZD/USD: We have re-established our bearish view following Friday’s reversal candle that attracted increased client activity (see Fig.3). A move below 0.6545 would confirm downside towards 0.6450 and then the 0.6350 range lows.
USD/CAD: We are bearish in the short-term towards targets near the 1.3460 former range lows. It would take a daily close above 1.3815 (21-dma) in the least to signal scope for a move higher in range towards 1.4100/1.4330.
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