Forex Flash: USD/CAD may ease if closes below the 200-day MA – TD Securities

FXstreet.com (Barcelona) - The light economic calendar of the US session will make the market more vulnerable to headlines, according to the TD Securities team of analysts: "For the time being the market remains focused onGreeceand theUS'fiscal cliff' primarily, so headlines and the direction of 'risk' generally are likely to be the biggest drivers of the CAD", wrote analysts Shaun Osborne and Greg Moore, seeing the USDCAD poking below the important 200-day moving average (currently 0.9995) with the 'risk on' mood. "That opens up the potential for a deeper slide in the coming sessions, and the nearest decent support comes in around the 0.9945/55 zone", they said, adding that if the pair closes above the 200-DMA on the day, it would be indicative of more range traded ahead.