"Broader outlook for USD/CAD remains tilted to the topside as price & the Relative Strength Index (RSI) retain the bullish formation from earlier this year."
— David Song, Daily FX
Pair's outlook
By the middle of Friday's trading session the Greenback remained almost unchanged against the Canadian Dollar. However, during the first half of the day's trading the currency exchange rate had fluctuated more to the downside, and it had already passed the combined support of the weekly S2 at 1.3583 and the 50.00% Fibonacci retracement level at 1.3574. It is a strong signal that the support will be passed clearly in the near future, and the currency pair is most likely going to decline down to the support cluster near the 1.3530 mark, where four various levels of significance were located on Friday.
Traders' sentiment
SWFX marketplace remain bearish on the pair, as 31% of open positions are long, and 37% of set up orders are to buy.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | -38% | -40% | -44% | |
| Orders | -26% | -26% | -28% | |
| Indicator | 1D | 1W | 1MN | |
| MACD (12; 26; 9) | Buy | Buy | Buy | |
| RSI (14) | Neutral | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Neutral | Sell | Buy | |
| ADX (14) | Neutral | Neutral | Neutral | |
| CCI (14) | Buy | Neutral | Neutral | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Buy | Buy | Buy | |
| SAR (0.02; 0.2) | Sell | Buy | Buy | |
| Aggregate | ↗ | ↗ | ↑ | |