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: The move below last week’s 1.0565 low encourages our bearish view. Our initial downside targets are near 1.0520 and then the 1.0460 year-to-date lows.
USD/JPY: Support in the 122.20 area helps to underpin our bullish view. We are looking for a move higher through 123.75, the November highs, to confirm upside traction towards targets near the 125.30/125.85 highs.
GBP/USD: Monday’s bullish “hammer” candle signals a breather from recent weakness. We are overall bearish against the 1.5335 range highs and would look to fade upticks. Below 1.4990 would signal lower towards our targets near 1.4855.
AUD/USD: The move above 0.7285 has prompted us to pare back our bearish view in the short term. Risk is a squeeze higher in range. We would prefer to sell upticks towards 0.7385 and are overall bearish below 0.7440. A break below 0.7170 would signal lower towards 0.7070 and then targets near 0.7015.
NZD/USD: We were wrong to expect selling interest near the 0.6710 range highs and have removed our bearish view in the short term. We are overall bearish and would look to fade strength towards 0.6795. The range highs near 0.6900 keep us overall bearish towards 0.6430 and then lower towards the 0.6235 year-to-date lows.
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