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Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - UOB
EUR/USD: Neutral: In a range, likely between 1.0420 and 1.0620. EUR registered a range of 1.0452/1.0622 yesterday, which almost covers the whole of our expected 1 to 3 weeks consolidation range of 1.0420/1.0620 (first indicated last Thursday). At this stage, there is no pre-indication that EUR is ready stage a ‘break-out’. That said, the undertone is mildly positive and a break above 1.0620/25 could lead to a move higher to test the major resistance zone near 1.0650/70. GBP/USD: Bearish: To take partial profit at 1.2005/10. GBP broke below the strong 1.2085/90 support (low of 1.2038) but the down-move was quickly ... (full story)