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Flash: USD/CAD looks to resume bull trend – 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, “There is a strong support at 0.9582, however the immediate risk is for a short-term upside to unwind the overextended downside conditions – resistance is at 0.9843.” In addition, in looking at the USD/CAD, any downside will be limited, with a strong support at 0.9613. A closing cross higher in momentum tools would resume the bull trend. Resistance is at 0.9839 ahead of 0.9972.

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