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Tech Targets: EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD - UOB
EUR/USD: Neutral (since 29 May 17, 1.1180): In a 1.1140/1.1265 range. We indicated last Friday that EUR is expected to stay under pressure unless it can move and stay above 1.1210. The unexpected rapid rebound just edged above 1.1210 at the time of writing (high of 1.1212) and the downward pressure has eased. That said, the outlook for EUR is still deemed as neutral but this pair is more likely to trade sideways between 1.1140 and 1.1265 for now (instead of extending lower to 1.1105/10 as previously expected). Looking further ahead, the direction of the next sustained move is unclear and only a break of 1.1105 or ... (full story)