Setups For EUR/USD, USD/JPY, GBP/USD, USD/CHF, AUD/USD, NZD/USD - Barclays
The following are the latest technical setups for EUR/USD, USD/JPY, GBP/USD, USD/CHF, AUD/USD, and NZD/USD as provided by the technical strategy team at Barclays Capital.
EUR/USD: Our bearish view was encouraged by the break below 1.0805. Our initial downside targets are towards 1.0710. Below there would open next targets near 1.0640 and then the 1.0520 range lows.
USD/JPY: We are bearish and prefer to fade upticks towards the 118.40/65 area. A move below recent lows near 115.95 would signal lower towards targets near 115.65.
GBP/USD: Thursday’s key reversal day signals further profit taking on GBP shorts and has prompted us to pare back our bearish view in the short term. Risk is a move higher towards 1.4520. We would look for signs of a top to re-initiate a short position for 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 overall bearish but allow room for a pullback in range as stretched daily studies unwind from bearish extremes. Resistance in the 0.7050/75 area is expected to provide selling interest for a move below 0.6825 towards our targets near 0.6770.
NZD/USD: Thursday’s bullish close endorses the prior basing candle and points to further profit taking. Risk is a squeeze higher towards 0.6590, possibly the 0.6680 area. We would prefer to sell upticks for a move lower towards targets near 0.6290 and then 0.6235, the 2015 lows.
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