Setups: EUR/USD, USD/JPY, USD/CHF, EUR/JPY, NZD/USD, USD/CAD - Barclays
The following are the latest technical setups for EUR/USD, USD/JPY, USD/CHF, GBP/USD, NZD/USD, and USD/CAD as provided by the technical strategy team at Barclays Capital.
EUR/USD: The move below our initial targets near 1.0850 encourages our bearish view. We are now looking for further decline towards the 1.0710 lows. Selling interest is in the 1.1050 area, near the 200-dma.
USD/JPY: We prefer to fade upticks within the context of the broader bearish trend. Selling interest is expected in the 115.05 area. An unexpected break above 115.05 would signal a squeeze higher towards the 116 area before sellers resume. Below 110.95 would confirm lower towards our initial targets near 110.35/05.
USD/CHF: We are neutral. A close above 1.0005 would turn us more 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.
EUR/JPY: We are overall bearish and look for a move lower towards initial targets near 120.00 and then greater targets in the 118.75 area. Nearby resistance is in the 125.05 area.
NZD/USD: We prefer to fade upticks in range against resistance in the 0.6775 area and look for a move below 0.6545 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 1.3740 (21-dma) in the least to signal scope for a move higher in range.
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