Forex Flash: USD/CAD sell on rallies – TD Securities

FXstreet.com (Barcelona) - With no domestic data on tap and plenty of Fed-speak today ahead of tomorrow’s data deluge, TD Securities analysts favor neutral range-trading in USD/CAD in the near-term. “From a technical point of view, we have been bearish USD/CAD over the past week or two but price trends suggest that the recent improvement may be stalling”; wrote analysts Shaun Osborne and Greg Moore, looking to sell USD rallies at the moment though “and we still rather think that the 1.0180/85 area should be firm short-term resistance”.

Apr 4, 2013

Forex: USD/JPY prints new high at 95.75 on US session

After the rally in reaction to the BoJ aggressive decision, the USD/JPY became quite stable around 95.50 throughout the European session. Now, as the US session unfolds, the pair has printed a new high at 95.75 and extended the daily range to 300 pips.

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Apr 4, 2013

Forex: EUR/USD squeezed back to 1.2850

In reaction to ECB Draghi’s press conference, the EUR/USD fell from 1.2836 to 1.2757, a fresh 2013 low. But the market considered that the EUR was too cheap compared to the greenback and bids brought it back to the opening price at 1.2848, erasing all daily losses and attempting to move higher now. Behind such recovery was Draghi’s forceful defense of Open Market Transactions and his dismissal of redenomination risk set off a serious squeeze, according to FXbriefs.com analyst Jamie Coleman.

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