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- TD Securities (based on Reuters)
Pair's Outlook
The pair is little changed since it tumbled below the major level at 1.09 on Friday. Even though, the pair slid below the 1.09 mark, which was a major support at the first part of August, the decline was stopped by pair's bulls in a moment. That is indicating on a fact that the pair is oversold at the moment and most likely it is poised to climb above the 1.09 mark in the near term. The technical indicators are pointing to the north, thus they are also suggesting that appreciation is likely.
Traders' Sentiment
There are relatively more people than yesterday considering that the Greenback is going to appreciate against the Loonie, namely 62%. Meanwhile, the share of buy orders grew from 25% up to 48%.
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