Forex Flash: Commodity Currencies and Euro Crosses largely bullish - UBS

FXstreet.com (Barcelona) - The UBS strategy team have taken a look at commodity currencies and Euro crosses from a technical perspective.

The begin by looking at AUDUSD and note that with trend indicators bullish, the risk is for more upside and a break above 1.0490 would open the doors to 1.0625. the see support at 1.0413 and 1.0376 and are bullish on the pair. Looking to USDCAD, the team are neutral and note that the next important support lies at 0.9895, a breach of which would trigger a deeper sell off to 0.9845. resistance is at 0.9962 ahead of 0.9992.

Looking at technical Euro crosses the begin with EURCHF. They are neutral on the pair and note that resistance is at 1.2057, ahead of 1.2090 with support at 1.2000. The team are bullish on EURGBP and note that with trend/momentum indicators pointing higher, a break above 0.8114 would expose 0.8169. they see support at 0.8060. Finally, looking to EURJPY, the team are bullish and note that the cross posted a new recovery high and see the potential for it to test 108. they see support at 105.28.