The following are the latest technical setups for EUR/USD, USD/JPY, USD/CHF, AUD/USD, NZD/USD, and USD/CAD as provided by the technical strategy team at Barclays Capital.
EUR/USD: We have turned bearish against resistance in the 1.1260/90 area and look for a move towards former range highs near 1.1060. A break below 1.1060 would signal an end to the corrective bounce off 1.0525 and further downside towards 1.0780.
USD/JPY: We expect a resumption of USDJPY selling during the Asian time zone to catalyse new lows. We are looking for the break below the 115.55 area to endorse our bearish view and confirm a multi-month topping pattern. Our targets are towards 110 and then the 106 area.
USD/CHF: We have abandoned our bullish view following the break below support near 0.9935. Overall we are bullish and would look for signs of a base above the 0.9785 December lows. A move above 1.0080 would signal a return towards the 1.0260 highs.
AUD/USD: Friday’s engulfing candle signals a top and provides reason for us to re-establish a bearish view. The 0.7385 greater range highs help keep our overall focus lower. Our targets are towards 0.7000 and then the 0.6915 area.
NZD/USD: Selling interest emerged ahead of resistance near 0.6770 and the resulting key day reversal has prompted us to turn bearish again. We are looking for a move lower towards 0.6560 and then the 0.6415 area. The 0.6900 range highs (near the 52-week average) help keep our greater view bearish.
USD/CAD: Friday’s up-close endorses the prior basing candle and signals higher in range. We have turned bullish and look for a move towards targets near 1.4105 and then 1.4170.
eFXnews is a financial news and information service. Articles and other information distributed in this service and published on this site are provided in general terms and do not take account of or address any individual user's position. To the extent that some of these articles include suggestions as to various possible investment strategies which users might consider, they do so in only general terms without reference to the personal factors which should determine any user's investment decisions to buy or sell a specific security or currency.
The service and the content of this site are provided and distributed on the basis of “AS IS” without warranties of any kind either, express or implied, including without limitations, warranties of title or implied warranties of merchantability or fitness for a particular purpose. eFXnews and its employees, officers, directors, agents, and licensors do not also warrant the accuracy, completeness or timeliness of the information in any of the articles and other information distributed in this service and included on this site, and eFXnews hereby disclaims any such express or implied warranties; and, you hereby acknowledge that use of the service and the content of this site is at you sole risk.
In no event shall eFXnews and its employees, officers, directors, agents, and licensors will be liable to you or any third party or anyone else for any decision made or action taken by you in your reliance on any strategy and/or advice included in any article and other information distributed in this service and published in this site.
Recommended Content
Editors’ Picks
EUR/USD hovers around 1.0700 after German IFO data
EUR/USD stays in a consolidation phase at around 1.0700 in the European session on Wednesday. Upbeat IFO sentiment data from Germany helps the Euro hold its ground as market focus shifts to US Durable Goods Orders data.
USD/JPY refreshes 34-year high, attacks 155.00 as intervention risks loom
USD/JPY is renewing a multi-decade high, closing in on 155.00. Traders turn cautious on heightened risks of Japan's FX intervention. Broad US Dollar rebound aids the upside in the major. US Durable Goods data are next on tap.
Gold price trades with mild negative bias, manages to hold above $2,300 ahead of US data
Gold price (XAU/USD) edges lower during the early European session on Wednesday, albeit manages to hold its neck above the $2,300 mark and over a two-week low touched the previous day.
Worldcoin looks set for comeback despite Nvidia’s 22% crash Premium
Worldcoin price is in a better position than last week's and shows signs of a potential comeback. This development occurs amid the sharp decline in the valuation of the popular GPU manufacturer Nvidia.
Three fundamentals for the week: US GDP, BoJ and the Fed's favorite inflation gauge stand out Premium
While it is hard to predict when geopolitical news erupts, the level of tension is lower – allowing for key data to have its say. This week's US figures are set to shape the Federal Reserve's decision next week – and the Bank of Japan may struggle to halt the Yen's deterioration.