© Dukascopy Bank SA
- TD Securities (based on Reuters)
Pair's Outlook
The pair once again is being supported by the weekly and monthly PPs at 1.1362/59. Nonetheless, it does not necessarily mean that the pair has lost its bullish steam. For matter of fact, we think that it has not and that it is likely to climb higher, after hovering around the current levels. The bias remains bullish for the pair and the next near-term target is the major level at 1.14 that previously was breached on Tuesday.
Traders' Sentiment
Similarly to the situation in AUD/USD, here the bulls also dominate the market by taking up 73% of it, which is 1% up from the pair's 10-day average. As for the orders, as many as 54% of them are to purchase the Dollar against the Loonie.
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