The latest from the technical strategy team at Barclays Capital
Technical setups for EUR/USD, USD/JPY, USD/CHF, GBP/USD, and USD/CAD
EUR/USD: A move below last week's 1.0565 low would encourage 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 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: Our bearish view was encouraged by the break below the 1.5020 November lows. We now look for a move below the 1.5000 psychological level to signal lower towards our targets towards 1.4860.
USD/CHF: Having reached our initial targets in the 1.0300 area, we are now looking for an extension higher towards our next targets near 1.0630 and then the 1.0910 area.
USD/CAD: Friday's sell-off in WTI crude oil has provided buying interest for USDCAD. We are bullish towards initial upside targets near the 1.3460 highs. Above 1.3460 opens our next targets in the 1.3535 area. Our greater targets are near 1.4000.
