Setups: EUR/USD, USD/JPY, GBP/USD, AUD/USD, NZD/USD, USD/CAD - Barclays
EUR/USD: We are cautiously bullish and look for a move higher towards initial targets near 1.1420. A move above would point towards the 1.1505 area next.
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USD/JPY: No change. Thursday’s sell-off through the May lows has encouraged us to resume our overall bearish view towards support near 102.10 and our targets towards 100.70.
GBP/USD: The break above our initial targets near 1.4685 encourages our bullish view. We now look for a a break above 1.4770 to signal squeeze higher towards 1.4885.
AUD/USD: We are cautiously bullish given the recent declining volumes. A move above our initial upside targets near 0.7505 would signal a squeeze higher in range towards 0.7570 and then the 0.7790/0.7720 area before sellers emerge.
NZD/USD: We are bullish towards and look for a break above 0.7150 to open greater targets near 0.7235. From there we would look for signs of a top and move lower toward 0.6890 and then 0.6675.
USD/CAD: We are bearish and look for a move towards initial targets near 1.2655. A break below there would signal lower towards the 1.2460 yearto-date lows.
