OctaFX | OctaFX Forex Broker
Open trading account

Flash: USD/CAD has intact bullish 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, “The immediate risk is for a short-term upside before the broader bear trend resumes. Resistance is at 0.9723 ahead of 0.9843, while support is at 0.9528 ahead of 0.9388.” In addition, in looking at the USD/CAD, Focus is on resistance at 1.0447, a beak above which would pave the way to test the major resistance at 1.0524. Support is at 1.0325 ahead of 1.0266, suggesting a bullish short-term outlook.

USD/JPY hits fresh highs ahead of US GDP

After falling to a 3-week low of 100.45, the US dollar found support and managed to reverse losses versus the yen, climbing over 100 pips within the last hours to print a high of 101.80 ahead of the NY opening.
Read more Previous

GBP/JPY higher testing 154.00

GBP/JPY had been attempting to continue in its most recent bearish wave again, after breaking below the psychological 155.00 level. It had consolidated, ahead of awaited economic data in a USD focused market place
Read more Next
Start livechat