© Dukascopy Bank SA
- Scotiabank (based on Reuters)
Pair's Outlook
After a dip below the 1.13 level on Wednesday, the US Dollar received a bullish impetus and formed an attack towards the 1.14 mark. That most likely will result in the third consecutive weekly gain. We remain USD-positive for now, the short-term target of course is 1.14; however, in the longer term this year's high might be surpassed. Additionally, the technical studies are giving ‘buy' signals, especially, the weekly and monthly ones.
Traders' Sentiment
More than 70% of the SWFX market participants believe that the U.S. Dollar will outperform the Canadian counterpart. And this number most likely will go up, as 55% of orders are placed to purchase the greenback.
© Dukascopy Bank SA