15 September, AtoZForex.com, Vilnius – As mixed bias looms over the market’s sentiments ahead of the long awaited Fed interest rate decision at September 17 FOMC meeting, Barclays Capital technical strategy team has shared the latest Barclays technical setups for EURUSD, USDJPY, GBPUSD and AUDUSD major currency pairs.
Kicking off with Euro, Barclays stays bearish and looks for increased selling interest around the 1.1340 zone, which should cap any upticks. A close above however, would indicate a stronger than initially expected rally higher towards 1.14 resistance and possibly to 1.1475, before bears get back into the control. “Our initial downside targets are towards the 1.1085 range lows,” the major bank added.
Moving on, the technical team’s overall view for Yen is bullish. However, lack of upside momentum through a resistance zone in the 120.80 – 90 field signals a possible further short term sideways chop. “A close above 120.90 would add to our bullish conviction towards 121.75, and then 123.35 area. Support is at 118.65,” the team described.
Barclays’ opinion about Pound has not changed. The break above the 1.5415 resistance has endorsed the banks bullish outlook. “We now look for further gains through the 1.5520, 200 dma to signal higher towards 1.5680,” the major bank added.
Finishing with Aussie, the technical team’s outlook is bearish. The analysts prefer to fade upticks against a resistance in the 0.7201 – 20 zone. A run below the 0.6895 lows would confirm downside momentum towards their primary targets near 0.6770 area, the technical strategy team finished.
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