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Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - UOB
EUR/USD: Neutral: Weakness could extend to 1.0990 but odds for such a move are slim. As highlighted last Friday, while the current pull-back from the 11 Feb high of 1.1375 could extend lower towards the major support at 1.0990, the odds for such a move is not high. However, only a move back above 1.1250 would indicate that the current downward pressure has eased. GBP/USD: Bearish: Continue to expect a move to 1.4200. We turned bearish GBP in the middle of last week, expecting a move lower towards the immediate target at 1.4200. This is a strong support level and would not be easy to break. That said, the next ... (full story)