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Tech Targets: EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD - UOB
EUR/USD: Neutral: Increasing risk of a short-term low. EUR eked out a ‘fresh low’ of 1.0632 yesterday before staging another quick rebound. Downward momentum continues to ease and it is getting increasingly likely that this pair is trying to form a short-term low. That said, confirmation is only upon a move above 1.0730. Until then, another leg lower to test the major 1.0595 support could not be ruled out just yet. GBP/USD: Neutral: In a 1.2350/1.2580 range. Despite the rapid recovery yesterday, the current movement is still viewed as part of a broad 1.2350/1.2580 consolidation range (roughly within the past ... (full story)