The following are the latest technical setups for EUR/USD, USD/JPY, GBP/USD, and AUD/USD as provided by the technical strategy team at Barclays (LONDON:BARC) Capital.
- EUR/USD: We prefer to fade upticks towards the 1.0800 area and look for a move below 1.0520 to confirm downside toward initial targets near 1.0460 and then the 1.0390 area. Nearby resistance is in the 1.0710 area.
- USD/JPY: The move below our initial downside targets near 119.00 signals lower in range towards 118.70 and possibly the 118.30 lows. It would take a move above 120.85 to encourage us to re-instate a more bullish view towards 121.20 and then the 122.05 highs.
- GBP/USD: Upticks provide better levels to sell within context of the greater bearish trend. We prefer to fade gains and look for a move lower towards1.4500.
- AUD/USD: We remain bearish and look for another attempt below initial targets towards 0.7530 to open our next targets near layered support near 0.7500/0.7450. Our greater downside targets are in the 0.7100 area.