USD/CAD fails at 1.11

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"I would say looking at the medium- to long-term, we could be looking at a C$1.09 to C$1.11 or C$1.1150 with the way things are looking today."
- CanadianForex (based on Reuters)


Pair's Outlook
Today the U.S. Dollar formed an attack towards the 1.11 level, even though it managed to approach the mark it failed to consolidate above the level. However, the pair's position has not been dramatically undermined after the failure at the major level. In the mean time, the weekly and monthly technical indicators are bullish, thus a repeated attacks towards the 1.11 level could follow. We do not expect the pair falling below the 1.10 mark in the nearest time, as it still is on a bullish momentum.

Traders' Sentiment
The sentiment towards the pair has not changed since Friday, at the moment of writing 64% of the SWFX market participants remain bullish. Meanwhile, the share of sell orders grew reached 62%.
© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Chcete-li se dozvědět více o platformě Dukascopy Bank CFD / Forex, SWFX a dalších souvisejících obchodních informacích, prosím, zavolejte nám, nebo vám můžeme zavolat my.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.