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26 Jun 2013
Flash: Commodity Currencies led by USD strength - UBS
FXstreet.com (Barcelona) - UBS strategists, Gareth Berry and Geoffrey Yu have taken a technical look at today´s Commodity Currencies and see USD strength leading the way.
Starting with AUD/USD, they are bearish, commenting that the pair is held by critical support at 0.9143 and a closing break below this will trigger deeper sell-off. Resistance is at 0.9313. Moving to USD/CAD, they are bullish and feel that as a reaction to a sharp advance, the pair is consolidating. They feel that support at 1.0396 should hold for now and their resistance focus is at 1.0524.
Starting with AUD/USD, they are bearish, commenting that the pair is held by critical support at 0.9143 and a closing break below this will trigger deeper sell-off. Resistance is at 0.9313. Moving to USD/CAD, they are bullish and feel that as a reaction to a sharp advance, the pair is consolidating. They feel that support at 1.0396 should hold for now and their resistance focus is at 1.0524.