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Forex Flash: AUD/USD continues bearish retracement – UBS

FXstreet.com (Barcelona) - 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, “the pair remains staunchly bearish, as support is at 0.9821, a break below this would pave the way for further weakness to 0.9711 – resistance is at 1.0018.” In addition, in looking at the USD/CAD, resistance is at 1.0217 ahead of 1.0294. Support is at 1.0082 ahead of 1.0014, suggesting a fairly neutral intraday outlook.

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