USD/CAD gained a toehold above 1.0285/71

As it turned out, a recent breach of the long-term moving average (for 200 day) was insufficient to change the outlook from positive to negative, especially considering that the major up-trend support line at 1.0209 was not violated. There USD/CAD formed a trough and commenced a recovery, though the rally is currently under considerable pressure—most of the daily studies give ‘sell' signals.

The bullish sentiment of the SWFX marketplace participants towards USD/CAD has strengthened over the weekend, with the share of open long positions increasing by two percentage points to 74%. At the same time the gap between the buy (64%) and sell (36%) orders narrowed.