While Bank of America Merrill Lynch remains long term EUR/USD bears, their technical strategy team acknowledges that the the near term setup points to a further corrective squeeze higher. "Gains should be limited to 1.0995/1.1098, but could extend as far as 1.1188 before topping and resuming lower," BofA projects. "Below 6d trendline support (now 1.0685) says the downtrend has resumed for 1.0283 and potentially below," BofA adds. In contract, BofA is far more constructive on the AUD and NZD arguing that both are pointing to a medium term turn in trend. "In AUD/USD, a close above the 50d (now 0.7835) confirms a turn ... (full story)