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Forex Flash: USD/CAD losses should remain relatively shallow intraday - TDS

By FXstreet.com,  February 12, 2013, 09:54:00 PM EDT

"USD/CAD remains relatively well supported," say Toronto FX Research Team at TD Securities, "on the basis of the bullishly-oriented DMI oscillator," they add, "so we rather think that losses should remain relatively shallow intraday," the team concludes.

Nonetheless, they also note: "Weakness below 1.0045 does, however, suggest the risk of a modestly deeper pullback in the next day or two," though, "For the moment, we remain constructive and look at modest USD weakness as a buying opportunity still."




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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