Forex Flash: Commodity-based face divergent outlooks intraday – 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, “we reiterate a bullish near-term outlook as all evidence suggests more upside in the near-term and any setback will be limited. resistance is at 1.0604/1.0627, while support is at 1.0426.” they note. Should a pullback occur, support lies below at 1.0406. In addition, the USD/CAD indicators suggest a neutral outlook, with near-term resistance is at 1.0197, ahead of 1.0251 – support is at 1.0135 ahead of 1.0089.