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– Jamie Saettelle, Daily FX
Pair's Outlook
The US Dollar depreciated and fell below the weekly PP at 1.3370 against the Canadian Dollar by mid-day on Tuesday. Previously, the currency exchange rate stopped a four consecutive session surge and began to fall. During the fall, it managed to find support in the before mentioned weekly pivot point. However, on early Tuesday morning the rate continued to fall. It is most likely that the rate will continue to fall, as the only support until the level of 1.3313 is the previously active ascending channel's upper trend line at 1.3344.
Traders' Sentiment
SWFX traders remain short on the pair, as 60% of open positions remain short. In the meantime, trader set up pending commands are neutral.
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