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- St-Arnaud, a former Bank of Canada economist. (based on Bloomberg)
Pair's Outlook
The USD/CAD was little changed on Thursday as the market lost some portion of participants. The cross managed to tick few pips higher from the last update but generally the USD/CAD shoved no move today. Currently, the weekly R3 at 1.233 is the closest support level, whereas the resistance is not that near- 1.246, the 2009 April high.
Traders' Sentiment
While the sentiment from indicators is neutral, half of the trades are long. The 50– pip pending orders are generally set to buy for 67% of the case and the 100– pip ones are bought for 78% of traders.
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