The following are the latest technical setups for EUR/USD, USD/JPY, GBP/USD, AUD/USD, NZD/USD, and USD/CAD as provided by the technical strategy team at Barclays Capital.
EUR/USD: We are bearish and would prefer to use upticks around 1.1265 as an opportunity to sell at better levels. A move below our initial downside targets near 1.1145 would encourage our bearish view. Our next targets are in the 1.1055 area.
USD/JPY: We are overall bearish and expect the greater range highs near 114.90 help to cap upticks. Falling volumes with the recent up-turn (see Fig.2) points to lack of investor commitment with price gains and helps keep our focus lower. Our targets are towards the 110.65 lows and then the 110.35/05 area.
GBP/USD: We look to fade upticks towards the 1.4400 area and expect the 1.4515 range highs to cap a move lower through 1.4050 towards support near 1.3980 and then our targets near the 1.3835 year-to-date lows.
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AUD/USD: We prefer to fade dips towards support in the 0.7410 area and look for a move through our initial targets near 0.7690 towards the 0.7875 area.
NZD/USD: Monday’s key-reversal points higher in range in the short term. We are overall bearish and would look to sell above 0.6800. The 0.6890 range highs help keep our overall focus lower. Our initial targets are near 0.6545 and then the 0.6350 range lows.
USD/CAD: Monday’s bearish engulfing candle encourages our bearish view. We look for a move back within range towards supports near 1.3065 and then 1.3000 ahead of the 1.2920 lows. Below 1.2920 would signal lower towards our targets near 1.2830.