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Tech Targets: EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD - UOB
EUR/USD: Neutral: Back in a range, likely between 1.0500 and 1.0715. Instead of extending higher, EUR dropped sharply yesterday from a high of 1.0715. The short-term undertone has shifted from positive to neutral and this pair has likely moved back into a consolidation phase. In other words, we expect range trading for now, likely between 1.0500 and 1.0715. GBP/USD: Neutral: Rebound to extend further towards 1.2480. The sharp pull-back after the spectacular rally on Tuesday was unexpected. As noted yesterday, as long as 1.2240 is intact, the current GBP strength appears to have scope to extend higher to test the ... (full story)