24 Jun 2013
Flash: AUD/USD faces bearish extension – 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, “The pair faces a strong support 0.9143. A closing break below this would be further negative. Resistance is at 0.9313 ahead of 0.9415, suggesting a bearish outlook.” The pair is moving higher and posting new highs – resistance is at 1.0524 ahead of 1.0658. Support is at 1.0363.
In terms of the AUD/USD, “The pair faces a strong support 0.9143. A closing break below this would be further negative. Resistance is at 0.9313 ahead of 0.9415, suggesting a bearish outlook.” The pair is moving higher and posting new highs – resistance is at 1.0524 ahead of 1.0658. Support is at 1.0363.