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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. There is not much to add; we still believe the current EUR weakness has scope to extend lower to 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: Shift from neutral to bullish: Anticipating a break above 1.4770. The ease of which last week’s 1.4663 top is taken out coupled with the strong daily closing has shifted the outlook to bullish again. From here, we are targeting a break above the month’s high of 1.4770. The next resistance above this ... (full story)