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- Royal Bank of Canada (based on Reuters)
Pair's Outlook
The pair is challenging the weekly and monthly R1s at 1.1506/27 that has not been touched before, simultaneously the pair has reached a new high at 1.1538. Also the technical indicators have become less bullish, as of now the weekly ones are the only ones that are pointing to the upside. If the Greenback breaks the monthly R1 at 1.1527 them it could move even higher; although, we do not expect the pair to reach the 1.16 level for now.
Traders' Sentiment
More than 70% of the SWFX market participants believe that the U.S. Dollar is going to outperform the Canadian peer. Although, it is not expect that this number could move substantially, as the pending orders are almost equal.
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