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19 Jun 2013
Flash: AUD/USD resumes the downside – 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.
In terms of the AUD/USD, “the recent sell-off has put our focus on the momentum tools to cross lower to indicate resumption of downside. Support is at 0.9416 ahead of 0.9326. Resistance is at 0.9574, suggesting a bearish outlook.” In addition, in looking at the USD/CAD, the recent upside should be limited and there is a strong resistance at 1.0245. Our focus is on the key support at 1.0120 ahead of 1.0027.
In terms of the AUD/USD, “the recent sell-off has put our focus on the momentum tools to cross lower to indicate resumption of downside. Support is at 0.9416 ahead of 0.9326. Resistance is at 0.9574, suggesting a bearish outlook.” In addition, in looking at the USD/CAD, the recent upside should be limited and there is a strong resistance at 1.0245. Our focus is on the key support at 1.0120 ahead of 1.0027.