6 Jun 2013
Flash: AUD/USD pair under heavy selling pressure – 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 selling pressure and the next critical support focus is at 0.9388. Resistance is at 0.9657, indicating a bearish outlook intraday” In addition, in looking at the USD/CAD, resistance is at 1.0388, a break above which would open the way to1.0451 and then 1.0524. Support is at 1.0328 ahead of 1.0262.
In terms of the AUD/USD, “The pair is under selling pressure and the next critical support focus is at 0.9388. Resistance is at 0.9657, indicating a bearish outlook intraday” In addition, in looking at the USD/CAD, resistance is at 1.0388, a break above which would open the way to1.0451 and then 1.0524. Support is at 1.0328 ahead of 1.0262.