Setups: EUR/USD, USD/JPY, GBP/USD, AUD/USD, NZD/USD, USD/CAD - Barclays
EUR/USD: Our bearish view was encouraged by the close below support in the 1.1360 area. Our next targets are towards the 1.1215 range lows and then lower towards 1.1125.
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USD/JPY: We are neutral for now and look for signs of a top to prompt us to adopt a more bearish stance in line with our overall view for weaker USDJPY. Our initial downside targets are towards 106.40 and then 105.20.
GBP/USD: Friday’s low close endorses Thursday’s small topping candle. We look for a close below support near 1.4350, the 100-dma, to encourage our bearish view towards 1.4300 and then 1.4170.
AUD/USD: We are bearish and look for a close below 0.7260, the 200-dma, to signal further downside towards targets near 0.7210 and then 0.7045.
NZD/USD: We have turned neutral. Friday’s low close endorses the prior topping candle and warns of further downside. A break below 0.6715, the range lows, would make us more bearish towards targets near 0.6665 and then 0.6545.
USD/CAD: Unwinding momentum studies help to endorse our bearish view. We are looking for a move lower towards 1.2745 and then the 1.2460 lows.
