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Commodity-based currencies remain convoluted – UBS

Posted on 25 April 2013

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, “There’s scope for more downside with the bearish conditions persisting. Support is at 1.0202 ahead of 1.0115. Resistance is at 1.0308 ahead of 1.0359.” In addition, the USD/CAD indicators suggest a bullish outlook, as resistance is at 1.0294, a break above this would open 1.0342 – support is at 1.0230 ahead of 1.0203………………………………………..Full Article: Source


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