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- ForexLive (based on Reuters)
Pair's Outlook
The pair's retreat was extended towards the weekly S2 at 1.1128, the greenback has lost more than 100 pips against the Canadian peer through last two days. Nonetheless, the weekly and monthly technical studies suggest that the pair will recover from the current losses. It is very unlikely that we will see a dip beneath the major level at 1.11. Just slightly below the 1.11 mark there is a cluster of supports (longer term support line, 55-day SMA, monthly PP) that should keep the pair above this level.
Traders' Sentiment
An overwhelming majority (74%) of the traders believe that the buck is going to regain its bullishness and increase in value relative to the Canadian currency.
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