UBS strategists, gareth berry and geoffrey yu take a technical perspective at todays commodity-based currencies and outline the technical positions.
in terms as to the aud/usd, “any upside will certainly be correction, unwinding the overextended downside conditions. resistance should hold at zero. 9918. support is at zero. 9711, a break below this would expose zero. 9582. ” additionally, in observing the usd/cad, there's a vital resistance at somewhat. 0342, a break on prime of which could be additional positive, extending strength out to somewhat. 0447. support is at somewhat. 0217.
in terms as to the aud/usd, “any upside will certainly be correction, unwinding the overextended downside conditions. resistance should hold at zero. 9918. support is at zero. 9711, a break below this would expose zero. 9582. ” additionally, in observing the usd/cad, there's a vital resistance at somewhat. 0342, a break on prime of which could be additional positive, extending strength out to somewhat. 0447. support is at somewhat. 0217.
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| Flash: AUD/USD bearishness on the horizon – UBS |
