The following are the latest technical setups for EUR/USD, USD/JPY, GBP/USD, AUD/USD, NZD/USD as provided by the technical strategy team at Barclays Capital
EUR/USD: We are bearish and would use upticks towards 1.0765 as an opportunity to sell at better levels. Our targets are near 1.0520 and then the 1.0460 year-to-date lows.
USD/JPY: Monday’s small topping candle signals a breather within the context of the overall rising trend. A move below 122.20 would risk a squeeze lower in range towards 120.80 before buyers resume. For now we would look to buy dips against 122.20 for a move higher through 123.75 towards our targets near the 125.30/125.85 highs.
GBP/USD: A move below our initial targets are near the 1.5025 November lows would encourage our bearish view. Our next targets are towards the 1.4860 area.
AUD/USD: Yesterday’s strong close negates Monday’s topping candle and signals a squeeze higher towards 0.7310 before sellers can emerge ahead of the 0.7385 range highs. We are overall bearish against the 0.7440 lower high and look for a move back below 0.7070 towards targets near 0.7015 and then the 0.6935/0.6895 lows.
NZD/USD: Tuesday’s inside day signals a breather. Overall, we are bearish and would look to sell upticks towards 0.6610 for a move lower through 0.6430. Our targets are near 0.6375 and then the 0.6235 year-to-date lows.
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