Setups: EUR/USD, USD/JPY, GBP/USD, AUD/USD, NZD/USD, USD/CAD - Barclays
EUR/USD: We are neutral given stretched daily studies and would prefer to fade upticks while resistance near 1.1620 caps. Initial downside targets would be towards 1.1250, the 21-dma.
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USD/JPY: Our bearish view would be encouraged by a break below support near 106.35. Our downside targets are towards 105.50 and then our targets are in the 105.35/105.20 area. Further out, we see room towards 100.70.
GBP/USD: A move below support in the 1.4330 area would encourage our bearish view and signal a double-top under the 1.4770 highs. Our initial targets are towards the 1.4090 area. A move below there would signal downside towards 1.4005.
AUD/USD: A sustained break above initial targets near 0.7490 would point higher towards 0.7550/70 before sellers emerge. We are neutral and look for signs of a top to re-establish a bearish view.
NZD/USD: The break above 0.7055 has prompted us to turn cautiously bullish in the short term towards targets near 0.7235. From there we would look for signs of a top and move lower toward 0.6890 and then 0.6675.
USD/CAD: A move below the 1.2615 final Fibo level would signal lower towards our next targets near the 1.2460 lows.
