Setups: EUR/USD, USD/JPY, GBP/USD, USD/CHF, AUD/USD, USD/CAD - Barclays
The following are the latest technical setups for EUR/USD, USD/JPY, GBP/USD, USD/CHF, AUD/USD, and USD/CAD as provided by the technical strategy team at Barclays Capital.
EUR/USD: We prefer to fade upticks against resistance in the 1.1050 area and look for a move below 1.0825 to confirm downside traction. Our targets are towards 1.0775 and then the 1.0710 range lows.
USD/JPY: We prefer to fade upticks towards 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.
GBP/USD: We are overall bearish and would use upticks as an opportunity to sell at better levels. The 1.4235 area (near the 21-dma) is expected to provide selling interest. A move below support near 1.3835 would signal lower towards 1.3500, near the 2009 range lows.
USD/CHF: We prefer to buy dips against support near 0.9775, the 200-dma. A break above 1.0040 would encourage our bullish view towards targets near 1.0130 and then the 1.0260 highs.
AUD/USD: We are neutral following the break above 0.7255, the 200-dma. We are looking for signs of a top near the 0.7385 to prompt us to turn bearish again. We are bullish AUDNZD and look for a move through the 1.0975 area to open targets towards the 1.1090 range highs.
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 1.3720 (21-dma) in the least to signal scope for a move higher in range.
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