31 May 2013
Flash: USD/CAD bullish above 1.0266 – UBS
FXstreet.com (Barcelona) - UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's commodity-based currencies and outline the technical positions.
In terms of the AUD/USD, “The immediate risk is for a short-term upside before the broader bear trend resumes. Resistance is at 0.9723 ahead of 0.9843. Support is at 0.9528 ahead of 0.9388, indicating a bearish outlook intraday” In addition, in looking at the USD/CAD, as long as support holds at 1.0266, the potential is for resumption of the bull trend. Meanwhile, resistance is at 1.0421 ahead of 1.0524.
In terms of the AUD/USD, “The immediate risk is for a short-term upside before the broader bear trend resumes. Resistance is at 0.9723 ahead of 0.9843. Support is at 0.9528 ahead of 0.9388, indicating a bearish outlook intraday” In addition, in looking at the USD/CAD, as long as support holds at 1.0266, the potential is for resumption of the bull trend. Meanwhile, resistance is at 1.0421 ahead of 1.0524.