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Forex Flash: Commodity Currencies mixed - UBS

FXstreet.com (Barcelona) - Gareth Berry and Geoffrey Yu of UBS have taken a technical look at Commodity pairs this morning and see a mixed outlook.

They are bullish AUD/USD, and note resistance at 1.0497. They feel that a break higher would leave little resistance until 1.0599, while support is at 1.0421 ahead of 1.0386. Moving to USD/CAD, they are neutral, with the latest weakness suggesting scope for an extension of correction to test critical support at 1.0089. They see resistance at 1.0183 ahead of 1.0208.

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