Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - UOB

EUR/USD: Neutral: Only clear break above 1.0995/00 or below 1.0775/80 would indicate start of a directional move. There is not much to add as EUR/USD continues to trade quietly albeit with an improving undertone. EUR/USD extended its recent gains without testing the 1.0850 support first but as expected, failed to move clearly above 1.0940 (overnight high of 1.0940). While the undertone remains positive, upward momentum is patchy at best. At this stage, only a strong and impulsive break above 1.0995/00 or below 1.0775/80 would indicate the start of a sustained directional move. In the meanwhile, we continue to hold a neutral view ...