USD/CAD closed below 0.9863

The price has managed to end the day beneath 0.9863 yesterday, but still hesitates to move any lower, as market participants require additional signals prior to shorting the pair. The nearest support is at 0.9837/30, followed by 0.9812, but these levels are improbable to initiate a robust recovery. Consequently, 0.9760 could be exposed, if the major down-trend resistance continues to prevent dips from emerging.

Sentiment of SWFX marketplace participants remains unchanged, as 66% of traders presently hold long positions and 34% of them expect the U.S. Dollar to lose ground relatively to its northern counterpart. Concerning orders, 44% are to enter longs and 56% are to sell the Dollar.