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- BNP Paribas (based on CNBC)
Pair's Outlook
The US Dollar remained relatively unchanged against its Canadian counterpart. There was only a slight decline, as the pair opened under the channel's support trend-line. The Greenback is likely to edge up and possibly end the trading session around 1.25. Meanwhile, the technical indicators are giving mixed signals; however, the outlook for the currency pair remains bearish. Furthermore, there is a chance of USD/CAD forming a bearish channel in the near future.
Traders' Sentiment
Bulls prevail over bears, with 73% of traders being long the Greenback (previously 58%). The portion of buy orders, on the other hand, decreased by 13 percentage points, down to 39%.
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