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23 Aug 2013
Flash: AUD/USD scope for more weakness – 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, “There is scope for more weakness and support focus is at 0.8848, a break below which would expose 0.8545. Resistance is at 0.9082 ahead of 0.9233., suggesting a bearish outlook.”
Moving to the USD/CAD, “The pair extends its strength and there is no major resistance until 1.0609 and 1.0658. Support is at 1.0471, suggesting a bullish outlook.”
Key quotes
In terms of the AUD/USD, “There is scope for more weakness and support focus is at 0.8848, a break below which would expose 0.8545. Resistance is at 0.9082 ahead of 0.9233., suggesting a bearish outlook.”
Moving to the USD/CAD, “The pair extends its strength and there is no major resistance until 1.0609 and 1.0658. Support is at 1.0471, suggesting a bullish outlook.”