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Forex Flash: USD/CAD, look to buy dips to the low 1.02 - TDS

FXstreet.com (Barcelona) - Despite the recovery on the USD/CAD, printing its highest at 1.0280, Shaun Osborne, Chief FX Strategist at TDS, notes "we are a little cautious on topside prospects still."

While we do think the retracement lower from the 1.0340 high may have run its course after finding good support close to the 38.2% Fibonacci retracement zone, broader trend dynamics are still fairly weak. The short-term scenario favours range-trading rather than a bullish break out. We would still rather look to buy dips—to the low 1.02 area—than chase this market higher."

Forex Flash: We remain short EUR/USD, 1.26 a realistic target - Westpac

Westpac expects "plenty more downside on EUR/USD in coming days and probably a souring of risk appetite beyond Europe" says Sean Callow, FX strategist at the bank.
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Forex Flash: Risk biased towards broader USD strength near term - RBS

Wide-spread contagion out of Europe has a higher hurdle than in past episodes, says RBS FX strategist Greg Gibbs, who argues that "the market is underpinned by more concerted quantitative policy measures, and the withdrawal of European banks to a certain degree from global financial markets." However, as he points, "there is a higher risk potential in the way Cyprus has been dealt with." Greg sees "the risk biased towards broader USD strength in the near term."
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