Barclays Daily Views – FXWW Chatroom

EURUSD: We are overall bearish and would use upticks as an opportunity to sell at better levels. 

Resistance near 1.1045 is expected to generate selling interest. Our downside targets are towards 1.0675 and then the 1.0460 year-to-date lows. 

USDJPY: Consecutive “doji” candles signal lack of directional traction. We are neutral in the short term. Risk is a move lower in range towards 123.00, possibly 122.00, before a base can form. We would buy dips against the 120.40 lows and look for a move towards the 125.85 highs. 

GBPUSD: Thursday’s key daily reversal signals a dip within range towards the 1.5450 area. We are overall bullish and would look to buy against the 1.5330 lows. A move back above the 1.5675 area would confirm higher towards our initial upside targets near 1.5800 and then the 1.5930 year-to-date highs. 

USDCHF: Yesterday’s bullish candle against support in the 0.9525 area encourages our bullish view. We are looking for a move higher towards targets near 0.9720 and then the 0.9865 range highs. 

EURJPY: We prefer to fade upticks against resistance in the 137.80 area and look for a move below initial targets in the 133.10/30 area to confirm further downside towards 131.80. 

EURGBP: We are bearish against the 0.7255 range highs and look for a move lower towards initial targets near 0.6930 and then the 0.6770 area. Beyond there, we are looking for a move towards the 0.6535, multi-year range lows. 

EURCHF: The break above nearby resistance in the 1.0525 area encourages our bullish view towards the 1.0575 range highs. A break above there would make us more bullish towards the 1.0815 area. 

AUDUSD: Our bearish view was endorsed by the break below support near 0.7325. Further downside is expected through our initial targets near 0.7265 towards the 0.7100 area. 

NZDUSD: Thursday’s “shooting star” against the 21-dma (near 0.6675) encourages our bearish view.

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