The following are the latest technical setups for EUR/USD, USD/JPY, GBP/USD, AUD/USD, NZD/USD, and USD/CAD as provided by the technical strategy team at Barclays Capital.
EUR/USD: We were wrong to expect resistance in the 1.1260/90 area. The squeeze above warns of room towards the 1.1495 range highs. We are reluctant to turn bullish, given stretched daily momentum readings. Overall, we prefer to fade upticks within the context of the greater 1.0425/1.1715 range. A move below 1.1060 would make us more bearish.
USD/JPY: A move below yesterday’s 114.20 low would open our initial targets near 113.10/30. Further out, we see room towards 110.35.
GBP/USD: A move below support near 1.4355, the 21-dma, would encourage our bearish view. Our downside targets are towards the 1.4150 area and then the 1.4080 lows.
AUD/USD: Yesterday’s basing candle signals a pause in the recent down-move. We are bearish against the 0.7245 range highs and look for a move below initial targets near 0.7000 to signal lower towards our greater in the 0.6915 area.
NZD/USD: A move below our initial downside targets near 0.6560 would signal lower towards the 0.6415 area and then our greater targets near the 0.6345 lows. Nearby resistance is at 0.6755.
USD/CAD: We are bullish against support near 1.3640 and look for a move towards initial targets near 1.4105 and then 1.4170.
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