© Dukascopy Bank SA
- Canadian Finance Minister (based on Bloomberg)
Pair's Outlook
The loonie faces a bearish pressure in recent days, as the price attempted to breach the 20-day SMA at 1.0262 unsuccessfully. After that, the price slipped to the weekly PP level at 1.0236 and even touched the lower Bollinger band at 1.0202 for a moment. If USD/CAD experiences poor bearish sentiments further, the price should check a 1.0202 level more seriously.
Traders' Sentiment
Distribution of buy and sell positions in USD/CAD pair remains very similar to yesterday's figures, since 57% are long and 43% are short. Placed orders market is skewed on a bullish side, as 68% orders are long.
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