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– Henry Liu, Henry Liu Forex (based on investing.com)
Pair's Outlook
The US Dollar scored minor gains against the Canadian Dollar in the first half of Monday's trading session, as the currency exchange rate was squeezed in between levels of significance. The pair started the week off just below the monthly S1, which is located at 1.3148. However, the rate managed to break it by the middle of the day. Further the Greenback is set to face the weekly PP at 1.3182 together with the 20-day SMA, which is gradually moving lower and was at 1.3205 on Monday. It is most likely that those resistance levels will be broken.
Traders' Sentiment
SWFX traders have once more increased their bullish outlook on the pair, as 57% of open positions are long on Monday. Meanwhile, 51% of trader set up orders are to buy the Buck.
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