7 Aug 2013
Flash: USD/CAD a mixed bag – 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, “The pair is targeting support at 0.8771. A move below this would trigger further sell-off towards 0.8545. Upside should be limited with a strong resistance at 0.9028., suggesting a bearish outlook.”
Moving to the USD/CAD, “the upside is held by key resistance at 1.0428. Support is at 1.0324 ahead of the significant 1.0241, suggesting a neutral outlook.”
Key quotes
In terms of the AUD/USD, “The pair is targeting support at 0.8771. A move below this would trigger further sell-off towards 0.8545. Upside should be limited with a strong resistance at 0.9028., suggesting a bearish outlook.”
Moving to the USD/CAD, “the upside is held by key resistance at 1.0428. Support is at 1.0324 ahead of the significant 1.0241, suggesting a neutral outlook.”