15 Jul 2013
Flash: USD/CAD bull trend intact – 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 and then, 0.8548, while resistance is at 0.9306, suggesting a bearish outlook.” Moving to the USD/CAD, the pair faces a critical support at 1.0317. Will the bull trend intact this should hold on closing basis. Resistance is at 1.0468 ahead of 1.0609, indicating a bullish outlook.
In terms of the AUD/USD, “With the bear trend intact, focus is on the support at 0.8771 and then, 0.8548, while resistance is at 0.9306, suggesting a bearish outlook.” Moving to the USD/CAD, the pair faces a critical support at 1.0317. Will the bull trend intact this should hold on closing basis. Resistance is at 1.0468 ahead of 1.0609, indicating a bullish outlook.