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"Currency volatility will increase in coming days, with a lot of tier 1 economic data to be released and then the U.S. presidential election next Tuesday"
- FxPro (based on Bloomberg Marketwatch)Pair's Outlook
Step by step USD/CAD is inching higher as continuation of development of its leg up, started after an encounter with a lower edge of a bearish channel, within which the pair has been fluctuating for more than a year. Consequently, the current bias is positive, although the advancement is likely to be cushioned by an up-trend line presently providing resistance at 1.0092.
Traders' Sentiment
The advantage of bulls over bears on USD/CAD is preserved, but to a lesser extent than yesterday. Currently the ratio between long and short positions is 57% to 43%, respectively. As for the orders, 58% of them support a positive outlook.
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