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Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD - UOB
EUR/USD: Bearish: Immediate target at 1.0905/10. While there is no change to the bearish outlook for EUR, the current price action is clearly not inspiring for those who are bearish. EUR really has to take out the recent low near 1.0950 soon or the current downward momentum would fizzle out quickly. Immediate target remains at 1.0905/10 and stop-loss is unchanged at 1.1040 GBP/USD: Neutral: In a 1.2960/1.3320 range. [No change in view] We shifted to a neutral stance about 2 weeks ago and since then GBP has been trading choppily within a broad range. However, downward momentum has improved somewhat but only a clear ... (full story)