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- Royal Bank of Canada (based on Reuters)
Pair's Outlook
This week we have seen almost complete standstill in this currency pair. At the beginning at the week the monthly PP at 1.0760 was reached, but the pair was not ready to break it. However, since then there have not been any important movements. The majority of the technical indicators are bullish and that is strengthening the scenario, where USD/CAD breaks the down-trend line just slightly above its current market price.
Traders' Sentiment
The sentiment towards USD/CAD remains more or less the same. Now 70% of the SWFX market participants expect the Greenback to outperform the Loonie. In the meantime, the share of buy orders slid from 62% down to 59%.
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