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Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - UOB
EUR/USD: Neutral: Bearish if daily closing below 1.1200. The anticipated extension lower in EUR was more rapid than expected and the undertone is clearly negative from here. That said, only a daily closing below 1.1200 would indicate that the current neutral outlook has shifted to bearish (for an immediate target of 1.1100). Overall, the downward pressure would continue to increase unless this pair can reclaim 1.1330 within these few days. GBP/USD: Shift from neutral to bearish: Target 1.4090. The plunge in GBP took out successive major supports and the outlook has clearly shifted to bearish. While the decline is ... (full story)
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