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Forex Flash: Commodity-based face bearish outlook – 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, “As the bear trend persists, there is potential for a test of the major support area at 1.0115 and 1.0103 – resistance is at 1.0254.” In addition, in looking at the USD/CAD, there is a critical support at 0.9987. A closing break below this would be further negative, triggering a deeper sell-off to 0.9933, while resistance is at 1.0083 ahead of 1.0132.”

Forex: AUD/USD fails to hold above 1.0200

The Australian dollar surrendered the modest gains accomplished during the European session against the greenback, weighed by a negative opening in Wall Street.
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Forex: A Sterling come back meeting resistance 1.5548

It now try’s to hold onto levels above yesterdays fragile support line of 1.5520 and trades at the high for today’s sessions so far at 1.5548.
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