Forex Flash: Commodity Currencies mixed in outlook - UBS

FXstreet.com (Barcelona) - UBS strategists Geoffrey Yu and Gareth Berry have taken a technical look at today´s commodity currencies and note a mixed outlook.

Starting with AUD/USD, they are bullish and note that while the support at 1.0351 holds, the risk is for the resumption of upside. They see resistance at 1.0497 ahead of 1.0599. Moving to USD/CAD, they are neutral and feel that the e latest weakness suggests scope for extension of correction to test critical support at 1.0089. They see resistance at 1.0167 ahead of 1.0223.

Apr 5, 2013

Forex Flash: EUR/USD may be supported post BoJ - OCBC Bank

Emmanuel Ng of OCBC notes that near term, EUR/USD may be looking slightly more supported post-BOJ, although undue upside may be lacking at this juncture after the less than inspiring comments from Draghi and soft services PMIs.

Forex: EUR/USD bouncing from 1.2901 low ahead of EMU data

The EUR/USD is currently biased for some correction of yesterday’s rally to 1.2949 high and eased lower for the European session. Surprisingly during one straight hour, selling pressure could only reach as low as 1.2901. Now, as investors prepare for the EMU GDP and retail sales, the market is pulling towards the opening price area. As of writing, the EUR/USD trades at 1.2925.