USD/CAD rebounds from 0.9848/37

USD/CAD is returning back to the up-trend resistance line that was forming a lower edge of the triangle pattern the price has breached recently. This recovery has been initiated after an encounter with 0.9848/37, but has a decreased likelihood of overcoming 0.9880. If the pair advances nevertheless, additional hurdles are to be found at 0.9903/0.9894 or 0.9916/14, as they secure bearish outlook.

The share of bullish towards the currency pair traders has increased up to 72% after the weekend, whereas bears are losing their positions and currently constitute 28% of the market. As for the orders, 44% of them are to buy the U.S. Dollar and 56% are to sell it against the loonie.