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1 Apr 2013
Forex Flash: USD/CAD, downside risk more prominent
FXstreet.com (Barcelona) - USD/CAD has traded stagnant on Monday, with short term players having found 1.0150/80 as an area of balance since the latest fall off 1.02 supply on March 26.
According to Shaun Osborne, Chief FX Strategist at TDS, notes: "Although there has been no significant downside acceleration in spot since then, the USD has not been able to regain that upper 1.01 and we rather think downside risks remain more prominent in the next week or two at least. Bearish trending short and medium-term trend momentum suggests downside risks overall to us."
According to Shaun Osborne, Chief FX Strategist at TDS, notes: "Although there has been no significant downside acceleration in spot since then, the USD has not been able to regain that upper 1.01 and we rather think downside risks remain more prominent in the next week or two at least. Bearish trending short and medium-term trend momentum suggests downside risks overall to us."