The following are the latest technical setups for EUR/USD, USD/JPY, EUR/CHF, AUD/USD, NZD/USD, and USD/CAD as provided by the technical strategy team at Barclays Capital.
EUR/USD: Our bearish view was initially encouraged by the move below 1.1230. We now look for an extension below 1.1210 to open our next targets near the 1.1145 range lows and then the 1.1065 area. Beyond there, we are targeting a move towards the 1.0820 area.
USD/JPY: We have turned neutral following the unexpected break above the 110.65 former range lows. The risk is a squeeze higher in range towards 113.30. Overall the trend is bearish and we are looking for reasons to re-establish a bearish view towards the 1.0760 lows.
EUR/CHF: We are overall bullish and look to buy dips while the 1.0840 lows underpin. A move above our initial targets near the 1.1025 March range highs would point higher towards 1.1060 and then the 1.1115 area.
AUD/USD: Last weeks ‘‘doji’’ candle signals a breather from the recent up-move. We look for a dip within range towards the 0.7590 area. We would then look for signs of a base near the 0.7475 range lows.
NZD/USD: Failure to sustain a breach of resistance near 0.6990 along with last week’s topping candle helps to keep us bearish. We are looking for a move lower towards targets near 0.6760 and then the 0.6670 area. A bullish weekly reversal in AUDNZD points towards our targets near 1.1335/1.1360.
USD/CAD: The move below our targets in the 1.2670 area endorses our greater bearish view. We expect upticks to find selling interest near the 1.2780 area and look for further downside towards 1.2050/1.1915.
This content has been provided under specific arrangement with eFXnews.
Advertisement
For a live simulators for bank trade positions and forecasts, sign-up to eFXplus
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
AUD/USD holds above 0.6500 in thin trading
The Australian Dollar managed to recover ground against its American rival after AUD/USD fell to 0.6484. The upbeat tone of Wall Street underpinned the Aussie despite broad US Dollar strength and tepid Australian data.
EUR/USD comfortable below 1.0800 lower lows at sight
The EUR/USD pair lost ground on Thursday and settled near a fresh March low of 1.0774. Strong US data and hawkish Fed speakers comments lead the way ahead of the release of the US PCE Price Index on Friday.
Gold price finishes Thursday’s session set to reach new all-time highs
Gold price rallied during the North American session on Thursday and hit a new all-time high of $2,225 in the mid-North American session. Precious metal prices are trending higher even though US Treasury yields are advancing, underpinning the Greenback.
Bitcoin price extends retreat from $69K as old whales shift their holdings to new whales
Bitcoin price continues to move further away from the $69,000 threshold, gaining ground as BTC bulls hope for a retest of the $73,777 peak. This is because of the general assumption that clearing this blockade would set the tone for a reach higher, marking a new all-time high.
Bears have been standing before a steamroller so far this year
Despite a pushback on rate cuts from Christopher Waller, and what was supposed to be cautious trading sentiment ahead of critical US inflation data released later on Friday, the S&P 500 rose on Thursday, marking its best first-quarter performance in five years.