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Forex Flash: CAD to outperform AUD - UBS

FXstreet.com (Córdoba) - After the recent fall of the AUD and given the strength of the CAD, the UBS team decided to pull the stop loss level of their open position below the entry level.

"The long CAD, short AUD position was opened at AUDCAD 1.06 with target 1.02 and stop loss at 1.081. As we are approaching our target of 1.02, we lower the target to 1.00 as we remain confident in the outperformance of the CAD over the AUD", says UBS. "However, if things should go into the other direction, we also pull the stop loss in the money at 1.045".

Forex: USD/JPY finds support at 98.80, back to 99.00

After declining 55 pips from the 99.35 area to break below the 99.00 and to test the Monday's low at 98.80, the USD/JPY seems to have found support at this level and currently the pair is trading around the 99.00.
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