-
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - UOB
EUR/USD: Shift from bearish to neutral: In a 1.1120/1.1290 range. The breach of 1.1240 yesterday has shifted the outlook for EUR to neutral. The lack of a sustained down-move was not surprising as we have indicated previously that any weakness is likely limited to 1.1100 (low was 1.1119 on Wednesday). We are neutral now and expect EUR to trade in a broad 1.1120/1.1290 range for the next couple of weeks GBP/USD: Bearish: Increasing risk of a short-term low. We highlighted the rapidly waning momentum yesterday and advocated shorts to book some profit at 1.3035. Subsequently, GBP rallied strongly and edged 1 pip above ... (full story)