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Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - UOB
EUR/USD: Bearish: To take partial profit at 1.1055. EUR finally broke below the 1.1180 support and exceeded the 1.1140 target. The current movement is likely the start of the next leg lower and from here; we are aiming for a move to the mid-March low of 1.1055. This is a rather strong support and those who are short from last Monday should look to cover half of their position at this level. GBP/USD: Neutral: Outlook is still deemed as neutral. We shifted to a neutral stance yesterday and were of the view that only a break below 1.4400 would indicate the start of a bearish phase in GBP. The rapid recovery that took ... (full story)