The following are the latest technical setups for EUR/USD, GBP/USD, USD/CHF, NZD/USD, and USD/CAD as provided by the technical strategy team at Barclays Capital.
EUR/USD: We have turned bearish following subsequent ‘‘doji’’ topping candles. A low close today would encourage our bearish view towards initial targets near 1.1290 and then the 1.1220 area (near the 21-dma).
GBP/USD: No change. We are bearish and look for a move lower towards initial targets near 1.4050. A break below 1.4050 would signal lower towards the 1.3835 year-to-date low.
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USD/CHF: We are bearish and look for a move below our initial downside targets near 0.9550 to signal a squeeze lower towards our next targets in the 0.9475 area.
NZD/USD: Monday’s low close endorsed prior topping candles and encouraged us to re-establish a bearish view. Our targets are towards the 0.6670 area and then lower toward 0.6545.
USD/CAD: No change. We prefer to fade upticks above 1.3165, near the 21-dma 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.