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 neutral for now and expect any further gains to find selling interest near resistance in the 1.1260/90 area. The greater range highs near 1.1500 help to keep our greater view bearish. Below 1.1060 would signal an end to the corrective bounce.
USD/JPY: Our bearish view was encouraged by the break below support in the 118.85 area. We are now looking for further downside towards targets near 115.95 and then 115.65.
GBP/USD: Thursday’s small topping candle has encouraged us to re-establish a bearish view. A low close today would endorse the reversal and point towards initial targets near 1.4410 and then the 1.4150 area.
AUD/USD: We are looking for signs of a top to re-establish our overall bearish view. Our preference is to fade upticks against the 0.7385 greater range highs. A move below 0.7060 would encourage us to turn more bearish.
NZD/USD: Short-term risk is for a squeeze higher towards resistance near 0.6770 before sellers return. We are looking for signs of a top to reestablish a bearish view. The 0.6900 range highs (near the 52-week average) help keep our greater view bearish.
USD/CAD: Yesterday’s small basing candle signals a potential end to the recent corrective downturn. An up-close today would confirm the base and encourage us to turn bullish towards targets near 1.4105 and then 1.4175.
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