Flash: USD/CAD resumes bullish trend ahead of 1.0394 resistance – 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. The immediate risk is for a short-term upside to unwind the overextended downside conditions. Resistance is at 0.9779.” In addition, in looking at the USD/CAD, with the bull trend in place, focus is on resistance at 1.0394, a break above would open 1.0447 – support is at 1.0249.