The following are the latest technical setups for EUR/USD, USD/JPY, AUD/USD, NZD/USD as provided by the technical strategy team at Barclays Capital.
EUR/USD: Tuesday’s low close confirms the prior “spinning top” candle and signals lower in range. Below 1.1230, nearby support would enhance our bearish conviction towards the 1.1085 range lows and then lower towards our targets near 1.1020/1.1000.
USD/JPY: Our bullish view was encouraged by yesterday’s “hammer” candle A close above 120.85, the 200-dma would confirm upside traction towards our targets near 121.75 and then the 123.35 area.
AUD/USD: The squeeze higher in base metals prices is helping to provide a bid for AUD. We prefer to fade upticks in line with our greater bearish view. Resistance in the 0.7210/20 area is expected to generate selling interest. A move below the 0.6895 lows would signal lower towards our targets near 0.6770.
NZD/USD: No change. Nearby resistance in the 0.6430 area is expected to provide selling interest on upticks. We are looking for a move lower through the 0.6245 lows towards initial targets near 0.6200. Below there, we are looking for further weakness towards 0.5900.
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