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- Market Pulse (based on investing.com)
Pair's Outlook
The US Dollar is in a free fall against the Canadian Dollar, as the currency exchange rate was scoring new heights on Wednesday until the FOMC Meeting Minutes were published. The revelation of the monetary policy details caused the US Dollar to fall. The decline of the Greenback against the Loonie was shortly stopped by the support cluster near the 1.3150 mark during the day. However, the fall had resumed the decline by the middle of Thursday's trading session, as the rate heads for the 20-day SMA at 1.3099, which is the closest support level to the pair.
Traders' Sentiment
Traders have decreased their bullish sentiment, as 56% of open positions are long, compared to 62% previously. Meanwhile, 52% of trader set up orders are to sell the Buck.
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