Setups For EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/CAD - Barclays
The following are the latest technical setups for EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD, and USD/CAD as provided by the technical strategy team at Barclays Capital.
EUR/USD: We prefer to fade upticks in EURUSD and look for resistance in the 1.1060 area to cap a move lower. Another break below 1.0805 would encourage our bearish view towards 1.0710 and then lower towards targets near 1.0640 and then the 1.0520 range lows.
GBP/USD: We are overall bearish and view Wednesday’s inside day as a healthy breather within the overall down-move. Another break below 1.4120 would signal lower towards our targets near 1.4040 and then the 1.3930 area.
USD/CHF: We are overall bullish and look for the move above 1.0125 to open our targets near the 1.0330 highs. Support near 0.9880 is expected to provide buying interest on dips.
AUD/USD: We are bearish. Wednesday’s small basing candle keeps the short-term range over support near 0.6825 intact and allows stretched daily studies to unwind. We would fade upticks towards the 0.7050 area and look for a move below 0.6825 to signal lower towards 0.6770.
NZD/USD: Yesterday’s bullish candle on increased volume signals short-term profit taking. We would fade upticks towards 0.6590 and look for a move lower towards targets near 0.6290 and then 0.6235, the 2015 lows.
USD/CAD: Short-term corrective weakness is seen as a healthy development within the context of the overall rising trend. We expect support in the 1.4150 area to keep the focus higher towards the 1.4950 area and then our greater targets towards 1.5325.
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