Setups: EUR/USD, USD/JPY, EUR/JPY, AUD/USD, NZD/USD, USD/CAD - Barclays
The following are the latest technical setups for EUR/USD, USD/JPY, EUR/JPY, AUD/USD, NZD/USD, and USD/CAD as provided by the technical strategy team at Barclays Capital.
EUR/USD: Friday’s “engulfing” candle has prompted us to turn bearish in the short term against resistance near the 1.1495 range highs. The move below 1.1160 would encourage our view and signal slower towards targets near 1.1090/60.
USD/JPY: We prefer to fade upticks towards 115.00. A move below our initial downside targets in the 110.35/05 area would encourage our bearish view towards greater targets near 106.00.
EUR/JPY: We are bearish and would use upticks as an opportunity to sell against 129.15 (near the 21-dma). A move below 125.75 would open our targets near 125.00 and then the 122.00 area.
AUD/USD: We are bearish and would look to sell against the 0.7245 range highs. A move below initial targets near 0.7000 would signal lower towards our greater targets in the 0.6915 area.
NZD/USD: We are overall bearish against the 0.6900 range highs. Nearby resistance at 0.6755 is expected to provide selling interest for a move lower towards the 0.6415 area and then our greater targets near the 0.6345 lows.
USD/CAD: Friday’s engulfing candle warns of a short-term dip within range. We prefer to buy against the 1.3640 area and look for a move higher towards initial targets near 1.4105 and then 1.417.
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