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– Kenny Fisher, Market Pulse (based on investing.com)
Pair's Outlook
During the first half of Tuesday's trading session the Greenback remained still in limbo around the 1.34 mark against the Loonie. The currency exchange rate was kept lower by the monthly R1, which was located at the 1.3417 level. However, the main difference, if compared to yesterday, is the fact that the upper Bollinger band has moved finally above the just mentioned level of resistance, which means that the pair might surge, as the Bollinger band's resistance moves out of the way. In that case the way would be free up to the 1.3517 mark, where the weekly R1 is located at.
Traders' Sentiment
Traders remain bearish on the pair, as 62% of open positions are short on Tuesday. In addition, 61% of trader set up orders are to sell the Buck.
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