Tech Setups For EUR/USD, USD/JPY, GBP/USD, AUD/USD - Barclays
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 Capital.
EUR/USD: The close above 1.1460 signals room for further upside squeeze towards 1.1580. We are waiting for follow-through buying to confirm upside traction in the short term. Overall we would fade strength against the 1.1710 highs.
USD/JPY: The break below the 118.65 range lows has forced us to abandon our bullish view in the short term. Risk is a squeeze lower in range towards support near 117.35 before buyers re-emerge. We prefer to buy dips for a move back towards initial targets near 121.30.
GBP/USD: Our bullish view was endorsed by the break above nearby resistance in the 1.5385 area on increased volumes. Our upside targets are towards 1.5540 and then the 1.5660 range highs.
AUD/USD: We are bearish against the 0.7440 range highs. A break below 0.7195 would confirm downside traction towards initial targets in the 0.7160 area and then 0.7030 ahead of the 0.6895 lows.
