In what direction do you perform the synchronisation?
If local->remote, you may use remote recycle bin feature. See Environment tab of Login dialog.

If remote->local, deleted files can be moved to recycle bin as well. Overwritten files cannot be preserved.

Is there any way to save a copy of the replaced file when I use the synchronize comand? I'd like to be able to archive off any deleted or updated files during the sync process, so I know that they looked like before.