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: The break below 1.1310, the 21-dma, encourages our bearish view towards initial targets near 1.1210 and then the 1.1145 range lows. Beyond there, we are looking for a move towards the 1.0820 area.
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USD/JPY: Thursday’s “doji” candle signals that the recent up-turn is losing traction. We prefer to fade corrective upticks towards the 110.00/65 area and look for a move below 107.60 to confirm downside towards our targets near 106.65 and then the 106.10 area.
GBP/USD: We are bearish and look for a move lower towards nearby support in the 1.4005 area. A break below 1.4005 would then open our next targets near 1.3895 and the 1.3835 year-to-date low.
AUD/USD: The break above our initial upside targets at the 0.7725 recent highs encourages our bullish view. We are looking for further upside towards targets in the 0.7880 area next.
NZD/USD: We are bearish against resistance in the 0.6990 area and look for a move below 0.6760 to signal lower towards targets near 0.6670 and then 0.6545. The break above 1.1205 in AUDNZD encourages our overall bullish view for the cross towards targets near 1.1335/1.1360.
USD/CAD: We are bearish and would prefer to fade upticks while the 1.3220 range highs cap. Our downside targets are towards 1.2670.
