Markets continue their turbulent action and currencies are moving in all directions. What’s next?
Here are setups for 4 currency pairs:
Here is their view, courtesy of eFXnews:
The following are the latest technical setups for EUR/USD, USD/JPY, AUD/USD, USD/CAD as provided by the technical strategy team at Barclays Capital.
EUR/USD: We prefer to fade upticks while resistance in the 1.1710 area caps. The move below 1.1290 encourages our bearish view towards the 1.1020 area initially.
USD/JPY: The move above resistance in the 120.75 area (near the 200-dma) encourages our overall bullish view. We are looking for a move higher in range towards targets in the 123.50 area next.
AUD/USD: Wednesday’s “doji†candle signals a breather from recent selling as risk appetite gets a lift from the recent uptick in equities. We are overall bearish and would look to sell against the 0.7255 area for a move towards targets near 0.7000 and then the 0.6770 area.
USD/CAD: Downticks are seen as an opportunity to buy at better levels against support in the 1.3145 area. We are bullish and look for further gains towards targets in the 1.3465 area. A move above there would offer scope for longer-term upside towards the 1.4000 area.
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