© Dukascopy Bank SA
– based on Bloomberg
Pair's Outlook
The USD/CAD pair began to fall sharply on Friday, and it continued the fall during first half of Monday's trading session. By midday on Monday, the currency exchange rate had reached below a support cluster made up of the 100-day SMA at 1.2941 and the first weekly support level at 1.2933. However, the rate retreated afterwards, and continued to search for support in the cluster, as it traded just above it.
Traders' Sentiment
SWFX trader sentiment at the moment is 53% bullish. However, pending commands are 53% to sell the currency pair, as traders previously went through a huge buy, with 84% of pending orders to buy on Friday.
© Dukascopy Bank SA