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2 Apr 2013
Forex Flash: Commodity Currencies technically mixed - UBS
FXstreet.com (Barcelona) - UBS strategists Gareth Berry and Geoffrey Yu have taken a technical look at this mornings Commodity pairs and note a mixed picture ahead.
Starting with AUD/USD, they are bullish and note that resistance is at 1.0497, and a break above would leave little resistance until 1.0599. They see support at 1.0386 ahead of 1.0351. Moving to USD/CAD, they are neutral, and see that the latest weakness suggests scope for extension of correction to test support at 1.0137 and then 1.0089. They see resistance is at 1.0183 ahead of 1.0222.
Starting with AUD/USD, they are bullish and note that resistance is at 1.0497, and a break above would leave little resistance until 1.0599. They see support at 1.0386 ahead of 1.0351. Moving to USD/CAD, they are neutral, and see that the latest weakness suggests scope for extension of correction to test support at 1.0137 and then 1.0089. They see resistance is at 1.0183 ahead of 1.0222.