Setups: USD/JPY, GBP/USD, USD/CHF, AUD/USD, NZD/USD, USD/CAD - Barclays
The following are the latest technical setups for USD/JPY, GBP/USD, USD/CHF, AUD/USD, NZD/USD, and USD/CAD as provided by the technical strategy team at Barclays Capital.
USD/JPY: We are bearish and look for further downside towards support near 110.65, the year-to-date lows. A move below there would open our next targets in the 110.35/05 area.
GBP/USD: Yesterday’s low close endorses the prior topping candle and encourages our bearish view. We look for a move lower towards targets near 1.4050 and then towards the 1.3835 year-to-date low.
USD/CHF: Lack of follow through after Wednesday’s small base candle proved our decision to turn neutral somewhat premature. We have re-established a more bearish stance as increasing volumes signal further downside towards targets near 0.9550 and then 0.9475.
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AUD/USD: A small topping candle signals a breather within the overall bullish trend. We would prefer to buy dips towards the 0.7550 21-dma. The 0.7475 range lows help to underpin a move higher towards our greater targets in the 0.7875 area.
NZD/USD: We are neutral following the unexpected break above 0.6900. Risk is for a squeeze higher towards 0.6990. The greater trend is bearish below the 0.7175 former range lows.
USD/CAD: We prefer to fade upticks towards resistance in the 1.3175 area and look for the recent range highs near 1.3300 to cap a move lower towards initial targets in the 1.2830 area. Beyond there we see room towards 1.2670 next.
