Setups: EUR/USD, USD/CHF, AUD/USD, NZD/USD, USD/CAD, EUR/GBP - Barclays
The following are the latest technical setups for EUR/USD, USD/CHF, AUD/USD, NZD/USD, USD/CAD, and EUR/GBP as provided by the technical strategy team at Barclays Capital.
EUR/USD: We are bearish and look for the move below our initial targets near 1.0850 to open greater targets towards the 1.0710 lows. Selling interest is in the 1.1050 area, near the 200-dma.
USD/JPY: No change. We prefer to fade upticks within the 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.
USD/CHF: We are neutral. Failure to close above 1.0005 has prevented us from turning bullish towards targets near 1.0130 and then the 1.0260 highs. Below 0.9875 would signal a squeeze towards 0.9760, the 200-dma before buyers emerge.
AUD/USD: We expect resistance near 0.7260, the 200-dma to cap upticks and look for a move below initial targets near 0.7070 to point lower towards 0.6970 and then the year-to-date lows near 0.6825.
NZD/USD: We are bearish and look for a move below support in the 0.6545 area to confirm downside traction towards 0.6450 and then the 0.6350 range lows.
USD/CAD: The move below our initial downside targets near 1.3460 makes us more bearish towards 1.3230. It would take a daily close above 1.3815 (21-dma) in the least to signal scope for a move higher in range towards 1.4100/1.4330.
EUR/GBP: Our bearish view would be encouraged by a break below support near 0.7770, the 21-dma. Our initial downside targets are towards 0.7625. A move below there would point towards the 0.7525 range lows.
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