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Tech Targets: EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD - UOB
EUR/USD: Neutral: Back in a range, likely between 1.0500 and 1.0715. EUR dipped to low of 1.0587 yesterday but rebounded quickly. While the undertone has improved somewhat and a move above the 1.0715/20 high seen earlier this week would not be surprising, the current lackluster momentum suggests that a sustained up-move is unlikely (next resistance at 1.0765). In other words, we continue to expect range trading for now, likely between 1.0500 and 1.0715 even though the risk appears to be tilted to the upside. GBP/USD: Neutral: Rebound to extend further towards 1.2480. There is not much to add as we continue to hold on ... (full story)