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Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - UOB
EUR/USD: Neutral: In a 1.1120/1.1290 range. While the undertone for EUR has improved with the reasonably strong daily closing yesterday, it is premature to expect a sustained up-move. 1.1290 is still acting as strong resistance and even if there is a break above level, EUR is expected to face another solid resistance near 1.1325. That said, for the next few days, the positive undertone would stay intact unless there is a move back below 1.1180. GBP/USD: Bearish: Extension likely limited to 1.2865. We indicated yesterday that while the outlook for GBP is still bearish, any further weakness is likely limited to the ... (full story)