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17 Jul 2013
Flash: AUD/USD limited by strong resistance at 0.9333 – UBS
FXstreet.com (New York) - 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 bear trend intact, upside should be limited with a strong resistance at 0.9333. The broader focus is on the move below 0.8999 to test the critical 0.8771, suggesting a bearish outlook.” Moving to the USD/CAD, the pair faces a critical support at 1.0317. Will the bull trend intact this should hold on closing basis. Resistance is at 1.0468 ahead of 1.0609, indicating a bullish outlook.
In terms of the AUD/USD, “With the bear trend intact, upside should be limited with a strong resistance at 0.9333. The broader focus is on the move below 0.8999 to test the critical 0.8771, suggesting a bearish outlook.” Moving to the USD/CAD, the pair faces a critical support at 1.0317. Will the bull trend intact this should hold on closing basis. Resistance is at 1.0468 ahead of 1.0609, indicating a bullish outlook.