© Dukascopy Bank SA
- Market Pulse (based on investing.com)
Pair's Outlook
The US Dollar was in its fourth consecutive session of gains against the Loonie, as the currency exchange rate's surge could not be hindered even by the release of better than expected Canadian GDP data, which showed, that the Canadian economy has grown a lot more than forecasted. From a technical perspective the currency exchange rate has broken the last resistance before it reaches the 50.00% Fibonacci retracement level, which is located at the 1.3576 level. That means that a range of almost 200 pips is free from most technical resistances.
Traders' Sentiment
Traders remain bearish regarding the pair, as 58% of open positions are short on Thursday. In the meantime, 56% of trader set up orders are set to sell the Buck.
© Dukascopy Bank SA