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5 Aug 2013
Flash: AUD/USD looks to avert a collapse to 0.8545 – 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.
Key quotes
In terms of the AUD/USD, “The pair is under pressure and is approaching support at 0.8771. A move below this would trigger further sell-off towards 0.8545. Resistance is at 0.8994, suggesting a bearish outlook.”
Moving to the USD/CAD, “The pair advanced from the key support at 1.0241. Initial resistance is at 1.0428 ahead of the significant 1.0470, suggesting a neutral outlook.”
Key quotes
In terms of the AUD/USD, “The pair is under pressure and is approaching support at 0.8771. A move below this would trigger further sell-off towards 0.8545. Resistance is at 0.8994, suggesting a bearish outlook.”
Moving to the USD/CAD, “The pair advanced from the key support at 1.0241. Initial resistance is at 1.0428 ahead of the significant 1.0470, suggesting a neutral outlook.”