22 Aug 2013
Flash: AUD/USD scope for more weakness – 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, “There is scope for more weakness and support focus is at 0.8848, a break below which would expose 0.8545. Resistance is at 0.9082 ahead of 0.9233, suggesting a bearish outlook.”
Moving to the USD/CAD, “The recent strength has seen the pair close above 1.0470. This development is positive, indicating potential move higher to test strong resistance at 1.0609. Support is at 1.0389, suggesting a neutral outlook.”
Key quotes
In terms of the AUD/USD, “There is scope for more weakness and support focus is at 0.8848, a break below which would expose 0.8545. Resistance is at 0.9082 ahead of 0.9233, suggesting a bearish outlook.”
Moving to the USD/CAD, “The recent strength has seen the pair close above 1.0470. This development is positive, indicating potential move higher to test strong resistance at 1.0609. Support is at 1.0389, suggesting a neutral outlook.”