Flash: USD/CAD eyes bearishness – UBS

FXstreet.com (New York) - UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's commodity-based currencies and outline the technical positions.

Key quotes

In terms of the AUD/USD, “The pair came under pressure form the strong resistance at 0.9333. With the bear trend intact, focus is for further downside. Initial support is at 0.9121 ahead of 0.8999, suggesting a bearish outlook.”

Moving to the USD/CAD, “The pair extended its weakness and is trading just above the significant support at 1.0241. Resistance is at 1.0349 ahead of 1.0442, indicating a bearish outlook.”