The following are the latest technical setups for EUR/USD, USD/JPY, AUD/USD, NZD/USD as provided by the technical strategy team at Barclays Capital.
EUR/USD: No change. We are neutral given stretched daily studies and look for signs of a top to re-establish our overall bearish view. We would only buy on a break above 1.1710 for a short-term upside squeeze towards the 1.1810/75 area. From there we would look for signs of a top to move lower in range.
USD/JPY: We are looking for signs of a base to resume our greater bullish view. A move below 116.90 would prompt us to turn bearish in the short term towards the greater range lows near 115.55 where we would expect buying interest to emerge.
AUD/USD: Having reached our initial downside targets near 0.7100. We now expect further weakness and would use any upticks as an opportunity to sell at better levels. Our next downside targets are towards 0.7000 and then the 0.6770 area.
NZD/USD: No change. The spike lower through our targets near 0.6400 signals further weakness to come. We would fade upticks and stay bearish while price is below 0.6710. Initial targets are at Monday’s 0.6260 lows.
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