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Tech Targets: EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD - UOB
EUR/USD: Neutral: In a 1.0635/1.0780 range. While EUR hit the ‘rebound target’ of 1.0770 as expected (high of 1.0777), the sharp and swift pull-back from the top came as a surprise. Upward momentum has been dented and this pair has likely moved into a consolidation phase and is expected to trade within a 1.0635/1.0780 range. Looking further ahead, the bias is tilted to the upside but 1.0775/80 is acting as a very strong resistance and only a clear break of this level would indicate a move towards 1.0825 has started. GBP/USD: Bullish: Overbought but room for extension to 1.2950. While the consolidation over the ... (full story)