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: We are neutral in the short term and see downside risk towards 123.00, possibly 122.00 before a base can form. We would look to buy lower against the 120.40 lows and look for a move towards the 125.85 highs. 

GBPUSD: A break above nearby resistance in the 1.5675 area would encourage our bullish view. Our initial upside targets are near 1.5800. Beyond there, we are targeting the 1.5930 year-to-date highs. 

USDCHF: We look for support near 0.9525/45 to underpin weakness. Our upside targets are towards 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: Upticks towards 0.7075 are expected to provide a better opportunity to sell. While the 0.7255 range highs cap, we are looking for a move lower through 0.6930 towards targets in the 0.6770 area. Beyond there, we are looking for a move towards the 0.6535, multiyear range lows. 

EURCHF: We are bullish and look for the range lows near 1.0280 to underpin a move higher towards targets near the 1.0575 highs. 

AUDUSD: Our overall view is bearish. We would look to fade upticks against resistance in the 0.7500 area (recent range highs/200-dma). A move below 0.7325 would signal lower towards our targets near 0.7265 and then the 0.7100 area. 

NZDUSD: Upticks in range provide better opportunity to enter short positions. We would look to sell near 0.6690, the 21-dma. Range highs near 0.6775 are expected to cap a move lower through 0.6495 towards our targets in the 0.6400 area. 

USDCAD: USD profit taking signals a dip within range. We would look to

buy against support in the 1.2655 area. Our upside targets are near the 1.3065 multi-year highs. Breaking above 1.3065 would signal higher towards 1.3465 

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