© Dukascopy Bank SA
- TD Securities (based on Reuters)
Pair's Outlook
The pair is still trading just above the major level and weekly R1 at 1.0900/10, so far this level has supported the greenback well. Our outlook has not changed much, we still expect the pair to appreciate towards the weekly R2 and monthly PP at 1.0955/64. However, if the pair slips beneath the current support at 1.09 then we might see it falling towards the monthly S1 at 1.0859 once again. In the medium term we expect the pair to move closer to the major level at 1.10.
Traders' Sentiment
The distribution between the proponents and opponents of the buck's appreciation relative to the Loonie remains more or less the same as 24 hours ago—67% and 33% accordingly.
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