Flash: USD/CAD bull trend rests on fortification of support at 1.0266 – 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 immediate risk is for a short-term upside before the broader bear trend resumes – resistance is at 0.9723 ahead of 0.9843, while support is at 0.9528 ahead of 0.9388, indicating a bearish outlook intraday” In addition, in looking at the USD/CAD, as long as support holds at 1.0266, the potential is for resumption of the bull trend. Resistance is at 1.0421 ahead of 1.0524.