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- International Monetary Fund
Pair's Outlook
It appears that majority of traders have noticed the Channel Down pattern on the chart and are now trying to exploit it. In case of a bullish breakout, the first targets could potentially be 1.024 (Upper Bollinger band) and 1.0295 (weekly R3). In case of a slide lower, the pair is likely to test 1.0114 (100-day SMA) in near term.
Traders' Sentiment
The proportion of traders with bearish outlook on USD/CAD has risen to 55%, up from 52% yesterday, signaling pair's further depreciation. However, a significant share (45%) of traders expect bullish movements in near term.
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