© Dukascopy Bank SA
"It's halted the slide for now. The market is looking at what's been happening in the U.S. and they're not confident a strong-dollar policy, or a basis for a strong-dollar environment, is there as long as the Fed is going through all these challenges."
- Bank of Montreal (based on BloombergBusinessweek)
Pair's Outlook
Pair's advance above 1.042 has put higher levels on the map. It is very likely that recent high at 1.046 will put some pressure on the trader, but we expect that 1.052 could be tested in the upcoming week. In case of unexpected failure the pair should find support with 20, 55 and 100-day SMAs at 1.037/35.
Traders' Sentiment
Not much change can be observed in the market sentiment of the loonie-greenback cross. Share of bulls decreased by a marginal 2% and is at 71% gauge after the weekend. Slim majority (57%) of pending orders remains in favour of the bulls.
© Dukascopy Bank SA