SETUPS: EUR/USD, USD/JPY, GBP/USD, USD/CHF, AUD/USD, NZD/USD - BARCLAYS
The following are the latest technical setups for EUR/USD, USD/JPY, GBP/USD, USD/CHF, AUD/USD, and NZD/USD as provided by the technical strategy team at Barclays Capital.
EURUSD: 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 near 1.1270, the 21-dma and then lower towards the 1.1145 range lows.
USDJPY: A move below support in the 107.60 area would encourage our bearish view. Our greater targets are towards 106.65 and then the 106.10 area.
GBPUSD: Thursday’s low close negates the prior basing candle and helps keep our focus lower. We are looking for a move towards support near 1.39980 and then our targets at the 1.3835 year-to-date low.
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USDCHF: We are cautiously bearish following yesterday’s “doji” candle. A positive close today would encourage us to turn more bullish in the short term. For now we are staying bearish for a squeeze lower towards targets in the 0.9475 area.
AUDUSD: We are bullish and look for support near 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.
NZDUSD: 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.
