© Dukascopy Bank SA
- Canada's Finance Minister (based on Reuters)
Pair's Outlook
Yesterday the pair slipped below the major level and weekly PP at 1.0900/01, today the decline continued and the monthly S1 at 1.0859 was approached. The pair is trading around the lowest levels this year; however, the technical indicators suggest that pair's retreat could continue. Nonetheless, in our opinion the lowest level this months is already reached at 1.0814 and the U.S. currency should not slide any lower.
Traders' Sentiment
An overwhelming majority (71%) of the traders believe that the buck is going to regain its bullishness and increase in value relative to the Canadian counterpart. Concerning the buy and sell commands placed, their numbers are completely identical at the moment.
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