28 Jun 2013
Flash: AUD/USD eyes 0.9143 level – 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 MACD below its zero line, we expect the resistance at 0.9407 to hold on closing basis. Support is at 0.9143 – a closing break below this will trigger deeper sell-off, suggesting a bearish outlook.” Moving to the USD/CAD, as a reaction to a sharp advance the pair is consolidating. Support at 1.0396 should hold for now. Resistance focus is at 1.0556 ahead of 1.0658.
In terms of the AUD/USD, “With the MACD below its zero line, we expect the resistance at 0.9407 to hold on closing basis. Support is at 0.9143 – a closing break below this will trigger deeper sell-off, suggesting a bearish outlook.” Moving to the USD/CAD, as a reaction to a sharp advance the pair is consolidating. Support at 1.0396 should hold for now. Resistance focus is at 1.0556 ahead of 1.0658.