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Pair's Outlook
The US Dollar is surging against the Canadian Dollar on Friday, as the currency exchange rate managed to break through a strong resistance cluster from 1.2933 to 1.2949 by midday during Friday's trading session. Previously, the currency exchange rate was searching for support, and the situation looked like it is unlikely to find it. However, during Thursday's session the rate rebounded and surged past the weekly S1 at 1.2933. As the pair broke additional resistance levels above the weekly S1, it is most likely that it will move next to the 23.60% Fibonacci Retracement at 1.2988.
Traders' Sentiment
SWFX trader sentiment at the moment is 56% bullish. However, pending commands are 57% to sell the currency pair.
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