Setups: EUR/USD, USD/JPY, GBP/USD, USD/CHF, EUR/JPY, AUD/USD - Barclays
The following are the latest technical setups for EUR/USD, USD/JPY, GBP/USD, USD/CHF, EUR/JPY, and AUD/USD as provided by the technical strategy team at Barclays Capital.
EUR/USD: A move below our next downside targets near the 1.1060 former range highs would make us more bearish and signal a deeper setback towards 1.0710.
USD/JPY: The move below Wednesday’s 113.35 lows encourages our bearish view. We look for selling interest in the 115.05 to provide a cap for a move lower towards initial downside targets in the 110.35/05 area. Beyond there we see room towards greater targets near 106.00.
GBP/USD: Thursday’s bullish engulfing candle signals a breather from the recent down-move. We are overall bearish and look for a move towards initial targets in the 1.4150 area and then lower towards the 1.4080 year-to-date lows. Nearby resistance is in the 1.4400, the 21-dma.
USD/CHF: Yesterday’s ‘‘doji’’ candle and failure to close above resistance near 0.9960 has prompted us to turn neutral in the short-term. Overall we expect further gains and would look to buy dips or on a clear break above 0.9960 towards 1.0130.
EUR/JPY: Our bearish view was endorsed by the break below our initial targets near 125.75. Our next targets are near 125.00 and then lower towards 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.
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