Setups For EUR/USD, USD/JPY, EUR/JPY, GBP/USD, AUD/USD - Barclays
The following are the latest technical setups for EUR/USD, USD/JPY, EUR/JPY, GBP/USD, and AUD/USD as provided by the technical strategy team at Barclays Capital.
EUR/USD: We are standing aside while price consolidates ahead of resistance in the 1.1085/1.1120 area. Given stretched daily studies, we are looking for signs of a top. A move below Monday’s 1.0795 low would signal lower towards 1.0700.
USD/JPY: Following the break below 122.20, we have turned neutral. While that level caps the daily close, risk is a move lower in range towards targets near 120.65. Below that level would open support near 120.00, where we would look for signs of a base.
EUR/JPY: The move below nearby support in the 132.70 area would encourage our bearish view. We are looking for resistance near 134.55 to cap a move lower towards targets near 131.60 and then lower towards the 129.65 lows.
GBP/USD: We are overall bearish and would prefer to fade upticks. The move above 1.5200 opens better levels to sell towards 1.5275. We expect resistance near 1.5335 to help keep the focus lower towards the 1.4895 lows and then our targets near 1.4855.
AUD/USD: We are overall bearish against resistance near 0.7440 and would look to sell towards the 0.7385 range highs. A move below our initial downside target near 0.7170 would open 0.7070 and then the 0.7015 November lows.
