Forex Flash: Commodity Currencies technically bearish - UBS

FXstreet.com (Barcelona) - UBS strategists Gareth Berry and Geoffrey Yu have taken a technical look at today´s commodity pairs and are technically bearish in outlook.

Starting with AUD/USD, they note that the pair is targeting support at 1.0221 and a break here would be negative opening 1.0115. They see resistance at 1.0323 ahead of 1.0385. Moving to USD/CAD, they write, “Initial support is at 1.0052, a break below which would expose 0.9987. Resistance is at 1.0096 ahead of 1.0132.”