Flash: AUD/USD bear trend still in focus – 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, “With the bear trend intact, focus is for further downside. Initial support is at 0.9138 ahead of 0.8999. There is a strong resistance at 0.9333, suggesting a bearish outlook.”

Moving to the USD/CAD, “The pair faces a critical support at 1.0311. A break below this would prolong the correction to 1.0241. Resistance is at
1.0468 ahead of 1.0609, indicating a neutral outlook.”