© Dukascopy Bank SA
- Cambridge Mercantile Group (based on Reuters)
Pair's Outlook
The U.S. Dollar added more than 30 pips relative to the Loonie today and it is hovering around June's high at 1.0961. To our mind the buck will reach the major level at 1.10; however, it is possible that the pair trades around the current levels for some time before approaching the 1.10 mark. The daily technical indicators are neutral, while the weekly are slightly bullish, meaning that the pair might need a stronger push from the pair's bulls to move higher.
Traders' Sentiment
A distinct majority (64%) of the traders believe that the Greenback is going to lose its bullishness and decrease in value against the Canadian peer. Meanwhile, the gap between the buy (41%) and sell (59%) orders is widening.
© Dukascopy Bank SA