EUR/USD, NZD/USD: UOB believes short term tops have been achieved

Below ius UOB bank's short-term recommendations:

"EUR/USD: Bullish view. The risk of a short-term top is increasing:

Although the 1.16 level has been penetrated (1.1614 was the absolute high), the rapid and significant decline from this level suggests that we have achieved a short-term top. That being said, for this top to be confirmed, we need to go back under 1.14. Meanwhile, the euro needs to remain above 1.1550 over the coming days in order to not lose the bullish momentum.

NZD/USD: We are switching from bullish to neutral.

Our decision to recommend buying was bad timing as the NZD failed to move back above 0.7055 and eventually plunged. We are now neutral and anticipate the pair to evolve within the 0.68/0.70 range," says UOB.