Setups: 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: No change. Nearby resistance in the 1.1050 area (200-dma) helps provide selling interest for a move lower. We are looking for a move towards initial targets near 1.0850 and then the 1.0710 range lows.
USD/JPY: Wednesday’s small basing candle signals profit taking on JPY longs. We would prefer to fade upticks within context of the broader bearish trend. Selling interest is expected in the 115.05 area. A move below 110.95 would endorse our bearish view towards our initial targets near 110.35/05.
GBP/USD: We look for a move below nearby support in the 1.3850 area to encourage our bearish view. Our targets are towards 1.3500, near the 2009 range lows.
USD/CHF: We are neutral for now. A close below 0.9875 would encourage us to venture bearish in the short-term for a move lower in range towards 0.9760, the 200-dma. A break above 1.0005 would however point to resumption of the February rally towards 1.0130 and then the 1.0260 highs.
AUD/USD: We look for resistance near 0.7270, the 200-dma to cap upticks and help keep our bearish view. A move below initial targets near 0.7070 would point lower towards 0.6970 and then the year-to-date lows near 0.6825.
NZD/USD: No change. We are bearish against the 0.6755 area and look for a move towards targets near 0.6415 and then the 0.6345 lows.
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