© Dukascopy Bank SA
- TD Securities (based on Reuters)
Pair's Outlook
As expected the pair was not able to sustain that high trading levels as we saw on Wednesday and Thursday; however, USD/CAD has still appreciated this week. Also the technical studies are being bullish for the time being. We expect the pair to trade above the 1.12 in the short-term; although, in the longer-term a lot will depend on the Canadian currency and how well it performs, as the Greenback most likely will stay strong.
Traders' Sentiment
As evidenced by the SWFX traders' sentiment, seven out of ten traders believe that the U.S. Dollar is going to appreciate relative to the Loonie. In the meantime, the portion of buy orders increased, from 36% to 46%.
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