OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex Flash: Commodity-based face headwinds – 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, “With the trending indicators bearish, resistance at 1.0359 should hold any upside. Support is at 1.0221 ahead of 1.0115 and only a closing break above 1.0359 would suggest a more prolonged recovery to 1.0444.” In addition, the latest setback for the USD/CAD stalled just above support at 1.0164. A break below this
would expose 1.0084. Resistance is at 1.0261 ahead of 1.0294.

Forex Flash: Quality of lending declines in Spain – Goldman Sachs

Alongside the fall in lending volumes, the quality of lending in Spain has also declined. According to the Economics Research Team at Goldman Sachs Too much credit is extended to unhealthy sectors with poor growth prospects, such as construction, and too little net new credit creation towards more growth-friendly entrepreneurial and export-oriented sectors. This suggests the reallocation of capital has been somewhat inefficient, providing too little support to economic restructuring.”
Read more Previous

Forex Flash: Gilts eying 20-day MA – RBS

According to Dmytro Bondar, a Technical Strategist at RBS, “Gilts met the initial target of 119.93 but fell short of 120.52 and formed a major reversal candlestick pattern (higher high, lower low, lower close) known as an outside session. It changes the view and suggests that should the 20-day MA and 119.27 level be broken, there would be strong chances of turning bearish with targets of 119.00 and 118.61. A sustained price above 120.00 makes it constructive again.”
Read more Next
Start livechat