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- TD Securities (based on Reuters)
Pair's Outlook
The U.S. currency continues to outperform the Canadian counterpart, the pair surpassed the 100-day SMA at 1.0854 and later also the monthly R1 at 1.0873 today. At the moment USD/CAD is hovering around levels not seen since the first part of June when the pair started its shorter term down-trend. Even though the pair is on strong bullish momentum there is very substantial resistances ahead. The next important key level is just 10 pips higher—the major level at 1.09 and also the 200-day SMA at 1.0905.
Traders' Sentiment
For the firs time in around 30 trading sessions the pair's sentiment has dropped below the 70% mark. As of today 63% of the SWFX traders expect the buck to outperform the Loonie.
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