© Dukascopy Bank SA
- Bank of Nova Scotia (based on Bloomberg)
Pair's Outlook
The pair touched the 20-day SMA yesterday and that sparked a bullish impetus, bringing the price back to the weekly PP level at 1.0285.Perspectives of a further movement are very ambiguous, as the loonie is traded flat last two weeks, upper boundary is the major resistance at 1.0326 and the lower is the 20-day SMA with the weekly S1 at 1.0250/1.0233 area.
Traders' Sentiment
Bulls strengthened their positions by 1% overnight, expanding the share to 56%. Bears' piece of the market contracted to 44%. Waiting orders segment masses on a bullish side with 71% of placed orders and only 29% are pending orders for short positions.
© Dukascopy Bank SA