USD/CAD bounced off 1.0285/71

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Market perception, rightly or wrongly, was that Summers would be more hawkish than (current Chairman Ben) Bernanke or (leading contender Janet) Yellen or other possible candidates."
- CIBC World Markets (based on Reuters)

Pair's Outlook

Yesterday USD/CAD fetched 1.0285/71, the area that is supposed to prevent the currency pair from moving any lower in the nearest future. However, the price hesitates to rise, being weighed upon by the nearest resistance at 1.0343/42, formed by the weekly pivot point and the monthly S1. Weekly and monthly indicators also do not speak in favour of the immediate surge from the current levels.

Traders' Sentiment
Conviction of market participants has strengthened even further over the past 24 hours, as evidenced by expanding percentage of long positions opened on USD/CAD. Right now 73% of traders expect the U.S. Dollar to gain in value. Meanwhile, the distribution between the buy and sell orders is respectively 63% and 37%, namely exactly the same as yesterday.
© Dukascopy Bank SA
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Actual Topics

Tue, 17 Sep 2013 15:03:24 GMT

NZD/USD pushes through 0.82

The currency pair continues to struggle with 0.82, as it yet has to close above this resistance. Still, the 200-day SMA has already given in, meaning the medium-term outlook on the New Zealand Dollar is rather bullish than bearish now, with the April high at 0.8676 as a likely target.

Tue, 17 Sep 2013 15:03:10 GMT

AUD/USD's surge stalled at 0.9312

AUD/USD has already attempted to surpass the monthly R2 at 0.9379 twice since the beginning of this week, but the pair remains unsuccessful, failing to decouple from the support level at 0.9321.

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