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Forex Flash: Commodity-based face headwinds in near-term – 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 pair is under pressure and support focus is at 0.9922. A break below would expose 0.9821, though resistance is at 1.0096 – indicating a generally bearish trend intraday.” In addition, in looking at the USD/CAD, resistance is at 1.0154 ahead of 1.0187. Support is at 1.0063 ahead of 1.0014, which suggests a neutral outlook in the near-term.

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