Forex Flash: Commodity Currencies are mixed ahead - UBS

FXstreet.com (Barcelona) - UBS Strategists Gareth Berry and Geoffrey Yu have taken a technical look at today´s commodity currencies and see that the outlook is broadly mixed ahead.

Starting with AUD/USD, they are bearish and note that the trending indicators are bearish and resistance at 1.0359 should hold any upside. They see support is at 1.0263 ahead of 1.0221 and only a closing break above 1.0359 would suggest a more prolonged recovery to 1.0444. Looking to USD/CAD, they are neutral, noting that support is at 1.0128, and a break below this would extend the weakness to 1.0084 and 1.0071. They see resistance is at 1.0214 ahead of 1.0294.

Apr 29, 2013

Forex Flash: Euro deriving support from reduction of Italian deadlock - BTMU

Lee Hardman, FX analyst at the Bank of Tokyo Mitsubishi UFJ notes that the euro is deriving support from the reduction in political uncertainty in Italy following the announcement over the weekend that an agreement has been reached to end the political deadlock following the inconclusive election results from the 24th and 25th of February.

Forex Flash: NZD/AUD looks technically bullish - BNZ

Mike Jones of BNZ has taken a technical look at the outlook for NZD/AUD and believes that there are buying opportunities for investors on pending dips.