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- TD Securities (based on FXStreet)
Pair's Outlook
After reaching the resistance cluster around 1.3215, the USD/CAD was pushed back to the 1.31 psychological level yesterday, but instantly returned above the Tuesday's open price. The US Dollar is likely to inch higher today, in spite of technical studies showing mixed signs. The nearest resistance cluster slightly shifted to the downside, now located around 1.3210. However, the Buck is first required to conquer the 1.32 major level, which prevented the given pair from appreciating this week so far.
Traders' Sentiment
Although bulls regained some numbers, sentiment remains bearish at 63% (previously 65%). Meanwhile, the portion of orders to acquire the US Dollar edged down from 60 to 56%.
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