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17 Apr 2013
Forex Flash: Neutrality persists for commodity-based currencies – 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, “A neutral bias persists, as resistance is at 1.0402, a break above which would expose 1.0471 – support is at 1.0291 ahead of 1.0202.” In addition, the USD/CAD indicators suggest a neutral outlook, as near-term resistance is at 1.0285 ahead of 1.0342. Moreover, support is at 1.0192 ahead of 1.0151.
In terms of the AUD/USD, “A neutral bias persists, as resistance is at 1.0402, a break above which would expose 1.0471 – support is at 1.0291 ahead of 1.0202.” In addition, the USD/CAD indicators suggest a neutral outlook, as near-term resistance is at 1.0285 ahead of 1.0342. Moreover, support is at 1.0192 ahead of 1.0151.