Setups: EUR/USD, USD/JPY, GBP/USD, AUD/USD, NZD/USD, USD/CAD - Barclays
EUR/USD: We are overall bearish and would prefer to fade upticks against resistance in the 1.1245 area. A move below our initial downside targets near 1.1100 would open the 1.0990 area.
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USD/JPY: Selling interest in the 110.60 area helps keep us bearish. Overall, we expect the 111.90 range highs to cap a move lower towards initial targets near 108.20. Below 108.20 would signal further downside towards our next targets in the 106.40 area and then 105.20.
GBP/USD: We have re-established our bearish view against the 1.4670 range highs (near 200-dma) and look for a move back within range towards targets near 1.4505.
AUD/USD: Small signs of seller capitulation signal a breather within the context of the overall bearish trend. While price closes below 0.7255, the 200-dma, we look for a move towards 0.7040 and then the 0.6825 year-to-date lows.
NZD/USD: A succession of “doji” candles warns of an interim base. We are overall bearish and would prefer to fade upticks towards 0.6810. Our downside targets are towards targets near 0.6665 and then 0.6545.
USD/CAD: We are bearish and look for a move below support near 1.2910 to signal lower towards our next targets near the 1.2770 range lows.
