10 Jul 2013
Flash: USD/CAD looks to extend bullishness – 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, “With the bear trend intact focus is on the support at 0.8771 ahead of 0.8545. Interim support is at 0.9037. Resistance stand at 0.9201, suggesting a bearish outlook.” Moving to the USD/CAD, with the bull trend intact focus is on the initial resistance at 1.0609. A move above this would open 1.0658 ahead of 1.0804. Support is at 1.0512, indicating a bullish outlook.
In terms of the AUD/USD, “With the bear trend intact focus is on the support at 0.8771 ahead of 0.8545. Interim support is at 0.9037. Resistance stand at 0.9201, suggesting a bearish outlook.” Moving to the USD/CAD, with the bull trend intact focus is on the initial resistance at 1.0609. A move above this would open 1.0658 ahead of 1.0804. Support is at 1.0512, indicating a bullish outlook.