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– Market Pulse (based on investing.com)
Pair's Outlook
The US Dollar regained some of its losses suffered against the Canadian Dollar, which were suffered during the previous three trading session. However, by the middle of Thursday's trading session the currency exchange rate's rebound was already hindered by the 200-day SMA at 1.3120. Although, it is clear that the pair is most likely going to break through the resistance put up by the simple moving average. Due to that the currency pair is set to move to the resistance provided by the monthly S1 at 1.3148 by the end of Thursday's trading session.
Traders' Sentiment
SWFX traders have moved to the bullish side, as 53% of open positions are long on Thursday. In the meantime, 54% of trader set up orders are to buy the Greenback.
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