© Dukascopy Bank SA
– based on Daily FX
Pair's Outlook
The US Dollar marked second consecutive session of losses against the Canadian Dollar on Wednesday, as the currency exchange rate ended day's trading session at 1.2979. However, during the session the pair was volatile between 1.3084 from the upside and 1.2937 from the downside, as the USD/CAD pair struggled with the weekly PP at 1.2989. At the moment, the rate rebounded from the monthly PP at 1.2908, and it was trading at 1.2945 by 11:00 GMT. However, daily aggregate technical indicators forecast a surge for the pair during today's session.
Traders' Sentiment
SWFX traders have increased their bullish sentiment on the pair, as 73% of open positions are long. In the meantime, pending orders in the 100-pip range are closing in to being neutral, as 55% of pending commands are long.
© Dukascopy Bank SA