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- Blackwell Global (based on Investing.com)
Pair's Outlook
As the markets recovered from the huge selloff started by the UK's referendum on membership in the European Union, the Loonie gained strength against the US Dollar on Tuesday. The USD/CAD pair started Tuesday's trading session at 1.3075, and it soon met the 100-day SMA at 1.3080. Afterwards, the currency exchange rate started to decline, and, amidst day's trading, the pair touched the 1.2966 level. However, aggregate daily technical indicators forecast a surge for the pair today.
Traders' Sentiment
SWFX traders today have become bearish regarding the USD/CAD pair, as 57% of open positions are now short. In the meantime, 69% of pending orders in the 100-pip range are long.
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