Setups: EUR/USD, USD/JPY, GBP/USD, AUD/USD, NZD/USD, USD/CAD - Barclays
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: Our decision to turn bearish is being frustrated by the lack of downside follow through. We are looking for a low daily close to signal lower towards our initial targets in the 1.12265 area (near the 21-dma).
USD/JPY: The break Tuesday’s 109.95 low encourages our bearish view. We look for further weakness towards support in the 107.60 area and then our greater targets near 106.65 and 106.10.
GBP/USD: Yesterday’s basing candle warns of a breather in the recent down-move. It would take a positive close today to signal a squeeze higher in range towards the 1.4280 area. We would prefer to fade upticks and look for a move below 1.4005 towards the 1.3835 year-to-date low.
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AUD/USD: Wednesday’s inside day stems the recent downtick and helps keep us bullish. We look for the 0.7475 range lows to underpin a move higher. Our initial targets are at the 0.7725 recent highs. Beyond there we look for a move towards our greater targets in the 0.7880 area.
NZD/USD: We are bearish and look for a move lower towards targets are towards the 0.6670 area. A break below 0.6670 would encourage our bearish conviction towards targets near 0.6545.
USD/CAD: Yesterday’s low close endorses the prior topping candle and signals lower towards our initial targets in the 1.2830 area. Beyond there we see room towards 1.2670.
