Setups: EUR/USD, USD/JPY, GBP/USD, USD/CHF, AUD/USD - Barclays
The following are the latest technical setups for EUR/USD, USD/JPY, GBP/USD, USD/CHF, and AUD/USD as provided by the technical strategy team at Barclays Capital.
EUR/USD: Tuesday’s ‘‘doji’’ topping candle encourages our bearish view. We look for a move lower towards targets near 1.0825 and then lower to the 1.0710 range lows.
USD/JPY: Yesterday’s low close endorses a sequence of topping candles (‘‘dojis’’). We are bearish and look for a break below support near 112.15 to signal downside towards initial targets near 110.95. A move below 110.95 would open our next targets near 110.35/05.
GBP/USD: Our bearish view was encouraged by yesterday’s bearish engulfing candle. A close back below 1.4200, near the 21-dma would signal resumption of weakness towards 1.3835 and then the 1.3500 area.
USD/CHF: We are neutral. Consecutive reversal candles point to short-term investor indecision. Overall we would prefer to buy dips towards 0.9780, the 200-dma. A move above 1.0040 would signal higher towards 1.0130 and then the 1.0260 range highs.
AUD/USD: It would take a move below the 0.7250 area, near the 200-dma to signal resumption of the greater down-move towards 0.6825. Meanwhile risk is for an extension towards 0.7660/90.
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