Tech Setups For EUR/USD, USD/JPY, AUD/USD, USD/CAD - Barclays
The following are the latest technical setups for EUR/USD, GBP/USD, AUD/USD, USD/CAD as provided by the technical strategy team at Barclays Capital.
EUR/USD: Our bearish view was encouraged by yesterday’s engulfing candle. The initial break below our initial targets near 1.1145 signals lower towards 1.1085. Below the latter would confirm downside traction towards the 1.1000/20 area and further out towards 1.0810.
USD/JPY: No change. Buying interest ahead of initial support near 119.05 encourages our overall bullish view. A move above resistance in the 121.30 area would signal upside towards initial targets near 121.75. Beyond there, we are looking for a move higher towards the 123.35 area.
AUD/USD: A small basing pattern over the 0.6935 to 0.7150 area where we would look to sell. Overall, we are bearish against the 0.7280 range highs and look for a move lower towards the 0.6895 lows and then lower towards our next targets in the 0.6770 area.
USD/CAD: Wednesday’s bearish engulfing candle signals a breather from the recent up-move. Short-term risk is a dip towards 1.3180. We would look to buy dips within the context of the overall rising trend for a move towards our next targets near 1.3820.
