Setups: EUR/USD, USD/JPY, GBP/USD, AUD/USD, NZD/USD, USD/CAD - Barclays
The following are the latest technical setups for EUR/USD, USD/JPY, AUD/USD, NZD/USD, and USD/CAD as provided by the technical strategy team at Barclays Capital.
EUR/USD: The close below 1.0805 helps to endorse our bearish view towards initial targets 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. Overall, we expect a confluence of resistance in the 120.65 area to help keep the focus lower. Our targets are towards 115.95/115.65.
GBP/USD: We are neutral. A low close today would confirm Friday’s topping candle and encourage us to re-establish a bearish view towards targets near 1.4040 and then the 1.3930 area.
AUD/USD: A low close today would endorse Friday’s topping candle and encourage our bearish view. Our downside targets are towards 0.6825 and then the 0.6770 area.
NZD/USD: We are overall bearish and look for selling interest near 0.6590 to cap a move lower. Initial targets are towards 0.6290 and then 0.6235, the 2015 lows.
USD/CAD: Friday’s close below 1.4150, near the 21-dma has forced us to turn neutral in the short term as risk is for a deeper-than-initiallyanticipated down-turn. Overall, we are bullish and would look for signs of a base to re-enter a long position. A subsequent rally through the 1.4690 high would confirm upside towards the 1.4950 area and then our greater targets towards 1.5325.
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