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

EUR/USD: Bearish: Room to extend lower but 1.0820 is a major support.

While the rapid drop from the 1.1180/85 high on Tuesday is reassuring for our bearish EUR view, downward momentum is not as strong as we would like. This pair has to accelerate lower soon as a prolonged consolidation above the postBrexit low of 1.0909 would decrease the odds for further EUR weakness. The ideal target is still at 1.0820. 

Copy signals, Trade and Earn $ on Forex4you - https://www.share4you.com/en/?affid=0fd9105  

GBP/USD: Bearish: 1.3000 target exceeded, to take partial profit at 1.2700.

The 1.3000 target that was first indicated last Monday was finally met as GBP plunged to a low of 1.2798 yesterday. The outlook is still bearish but the current weakness is overextended and those who are shorts should look to book partial profit on any further decline to 1.2700. Next support is closer to 1.2500. 

AUD/USD: Bullish: Target 0.7600 followed by 0.7650.

AUD edged below the key 0.7410 support yesterday (low of 0.7408) before rebounding strongly. We maintain our bullish outlook and continue to expect a move to 0.7600 followed by the post-Brexit high of 0.7650.

NND/USD: Shift from bullish to neutral.

In a 0.7020/0.7240 range. The shift to a bullish stance on Tuesday was proven wrong quickly as NZD plunged and took out the 0.7120 stop-loss yesterday (low of 0.7080). The outlook is viewed as neutral now and we expected this pair to trade in a broad 0.7020/0.7240 range.

USD/JPY: Neutral: Room to retest 99.05/10.

While the sharp drop yesterday suggests that the current USD weakness could retest the post-Brexit low of 99.05/10, we are not convinced that such a move is sustainable. Overall, we prefer to hold a neutral view for now even though the downward pressure would continue to increase as long as 102.50 is intact.