© Dukascopy Bank SA
- Rabobank International (based on Bloomberg)
Pair's Outlook
The fundamentals introduced notable changes into USD/CAD chart, making the rate ignore the nearby resistances and immediately rush towards the 55-day SMA at 1.0403. Still, none of the key supports, such as the up-trend line at 1.0371 or another major support at 1.0254, have not yet been violated, meaning that the long-term perspective remains positive.
Traders' Sentiment
Even though the Canadian Dollar has already been one of the least popular currencies, there are now even less traders inclined to purchase the currency—in its crosses only 27% of positions are opened with expectation that the loonie will outperform the greenback.
© Dukascopy Bank SA