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Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - UOB
EUR/USD: Neutral: Short-term downward pressure has eased. In a 1.1350/1.1500 range now. Short-term downward pressure has clearly eased and the odds for an extension lower to 1.1300 are rather slim now. That said, the outlook for this pair is still viewed as neutral but it seems more likely that EUR will trade sideways between 1.1350 and 1.1500 from here. GBP/USD: Neutral: In a 1.4360/1.4550 range. [No change in view] The pull-back from the 1.4770 peak last week appears to be basing out. The odds for extension below 1.4400 have diminished and the current movement is viewed as the start of a consolidation phase. In ... (full story)