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
USD/JPY holds above 155.50 ahead of BoJ policy announcement
USD/JPY is trading tightly above 155.50, off multi-year highs ahead of the BoJ policy announcement. The Yen draws support from higher Japanese bond yields even as the Tokyo CPI inflation cooled more than expected.
AUD/USD extends gains toward 0.6550 after Australian PPI data
AUD/USD is extending gains toward 0.6550 in Asian trading on Friday. The pair capitalizes on an annual increase in Australian PPI data. Meanwhile, a softer US Dollar and improving market mood also underpin the Aussie ahead of the US PCE inflation data.
Gold price keeps its range around $2,330, awaits US PCE data
Gold price is consolidating Thursday's rebound early Friday. Gold price jumped after US GDP figures for the first quarter of 2024 missed estimates, increasing speculation that the Fed could lower borrowing costs. Focus shifts to US PCE inflation on Friday.
Stripe looks to bring back crypto payments as stablecoin market cap hits all-time high
Stripe announced on Thursday that it would add support for USDC stablecoin, as the stablecoin market exploded in March, according to reports by Cryptocompare.
US economy: Slower growth with stronger inflation
The US Dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.