Tech Setups For EUR/USD, USD/JPY, GBP/USD, AUD/USD - Barclays
The following are the latest technical setups for EUR/USD, USD/JPY, GBP/USD, and AUD/USD as provided by the technical strategy team at Barclays Capital.
EUR/USD: We are staying neutral as failure to sustain the break above 1.1460 warns that selling interest may have resumed already. A close near this week’s low would signal buyer capitulation and encourage us to resume our bearish short-term view towards 1.1085.
USD/JPY: Thursday’s rally into the close on increased volume signals seller capitulation and has prompted us to reinstate our bullish view. Our initial upside targets are higher in range towards 120.60 and then 121.30.
GBP/USD: Yesterday’s “doji” candle warns of a pause in the up-move. We expect any dips to find buying interest near 1.5385 and look for a move above 1.5510 to signal higher towards 1.5540 and then the 1.5660 range highs.
AUD/USD: We are bearish against the 0.7440 range highs. A break below 0.7195 would confirm downside traction towards initial targets in the 0.7160 area and then 0.7030 ahead of the 0.6895 lows.
