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- CIBC World Markets (based on Reuters)
Pair's Outlook
The bullish traders finally awaited the Greenback's advance, as yesterday the currency gained around 50 pips against the Canadian counterpart. For now the climb was halted at June high at 1.0961 earlier today; however, there are no significant obstacles ahead until the 1.10 level. The fact that the monthly technical studies are bullish is strengthening the scenario, where the pair reaches the major level at 1.10.
Traders' Sentiment
It seems that the yesterday's advance has scared some bullish traders away, as the pair's sentiment slipped 4% lower to 59%. Although, the gap between the buy (45%) and sell (55%) orders placed 100 pips from the spot is widening at the moment.
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