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Forex Flash: USD/CAD may target 1.0080/90 near-term – TD Securities

FXstreet.com (Barcelona) - “Fresh short-term cycle lows keeps the focus on the downside for USD/CAD in the short-term, at least”, said analysts Shaun Osborne and Greg Moore, adding that the loss of support in the 1.0180/85 area implied a market that would likely transition from better buyers of USD dips to better sellers of USD strength. “With the market clearly struggling to regain the upper 1.01 area in the past few days and short term trend momentum signals (1-hour, 6-hour and daily) all aligned bearishly, we expect more losses for the USD to accumulate from here”, they continued, indicating short-term resistance at 1.01070 and doubting the market will have the legs to retest 1.0185 for some time. “Look to sell modest USD rallies. We target a drop to 1.0080/90 near-term but losses may extend beyond that”, they concluded, also thinking there is a good chance that the market will retest the par area (200-day MA) in the next few weeks.

Forex Flash: Capital flight abounds in Eurozone – UBS

According to Research Analyst Gareth Berry at UBS, “We expect that the theme of capital flight out of the Eurozone will continue to run for some time in the wake of the Cyprus bailout.” The immediate focus, of course, is on deposit flight but capital controls will be expected to do their job for now. Of course, the images of bank runs and deposit flight are powerful, but we expect capital flight in the form of investment outflows is even more pernicious.
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