Setups For 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: Nearby resistance in the 1.0985 area helps to keep our focus lower. A move below 1.0775 would encourage our bearish view towards initial targets near 1.0710. Below there would open next targets near 1.0640 and then the 1.0520 range lows.
USD/JPY: Consolidative price action along with stretched momentum studies has prompted us to turn bearish in the short term. We look for resistance in the 122.10 area to provide selling interest for a move lower in range towards 120.00/119.50. Below the 118.85 area is needed to suggest scope for resumed downside towards 115.95/115.65.
GBP/USD: We expect resistance in the 1.4520/65 area to help keep the focus lower. Below Friday’s 1.4150 low would encourage our bearish view towards targets near 1.4040 and then the 1.3930 area.
AUD/USD: We are neutral in the short term and look for signs of a top to re-establish our overall bearish view. We would prefer to fade upticks towards 0.7260. Our initial downside targets are near 0.6915 and then the 0.6825 lows.
NZD/USD: 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: Monday’s small basing candle signals scope for a base. A bullish close today would encourage us to turn bullish for a move higher in range towards initial targets near 1.4220 and then the 1.4330 area.
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