Setups: EUR/USD, USD/JPY, EUR/CHF, AUD/USD, NZD/USD, USD/CAD - Barclays
The following are the latest technical setups for EUR/USD, USD/JPY, EUR/CHF, AUD/USD, NZD/USD, and USD/CAD as provided by the technical strategy team at Barclays Capital.
EUR/USD: Our bearish view was initially encouraged by the move below 1.1230. We now look for an extension below 1.1210 to open our next targets near the 1.1145 range lows and then the 1.1065 area. Beyond there, we are targeting a move towards the 1.0820 area.
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USD/JPY: We have turned neutral following the unexpected break above the 110.65 former range lows. The risk is a squeeze higher in range towards 113.30. Overall the trend is bearish and we are looking for reasons to re-establish a bearish view towards the 1.0760 lows.
EUR/CHF: We are overall bullish and look to buy dips while the 1.0840 lows underpin. A move above our initial targets near the 1.1025 March range highs would point higher towards 1.1060 and then the 1.1115 area.
AUD/USD: Last weeks ‘‘doji’’ candle signals a breather from the recent up-move. We look for a dip within range towards the 0.7590 area. We would then look for signs of a base near the 0.7475 range lows.
NZD/USD: Failure to sustain a breach of resistance near 0.6990 along with last week’s topping candle helps to keep us bearish. We are looking for a move lower towards targets near 0.6760 and then the 0.6670 area. A bullish weekly reversal in AUDNZD points towards our targets near 1.1335/1.1360.
USD/CAD: The move below our targets in the 1.2670 area endorses our greater bearish view. We expect upticks to find selling interest near the 1.2780 area and look for further downside towards 1.2050/1.1915.
