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: We have turned bearish against resistance in the 1.1260/90 area and look for a move towards former range highs near 1.1060. A break below 1.1060 would signal an end to the corrective bounce off 1.0525 and further downside towards 1.0780.
USD/JPY: We expect a resumption of USDJPY selling during the Asian time zone to catalyse new lows. We are looking for the break below the 115.55 area to endorse our bearish view and confirm a multi-month topping pattern. Our targets are towards 110 and then the 106 area.
USD/CHF: We have abandoned our bullish view following the break below support near 0.9935. Overall we are bullish and would look for signs of a base above the 0.9785 December lows. A move above 1.0080 would signal a return towards the 1.0260 highs.
AUD/USD: Friday’s engulfing candle signals a top and provides reason for us to re-establish a bearish view. The 0.7385 greater range highs help keep our overall focus lower. Our targets are towards 0.7000 and then the 0.6915 area.
NZD/USD: Selling interest emerged ahead of resistance near 0.6770 and the resulting key day reversal has prompted us to turn bearish again. We are looking for a move lower towards 0.6560 and then the 0.6415 area. The 0.6900 range highs (near the 52-week average) help keep our greater view bearish.
USD/CAD: Friday’s up-close endorses the prior basing candle and signals higher in range. We have turned bullish and look for a move towards targets near 1.4105 and then 1.4170.
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