© Dukascopy Bank SA
- based on Forex Empire
Pair's Outlook
The US Dollar fell against the Loonie on Wednesday, as it moved below the weekly pivot point at 1.3100 and ended day's trading session at 1.3068. The pair continued to fall at the start of Thursday's trading, and it reached the monthly PP at 1.3043, against which the rate rebounded and moved higher, as the currency exchange rate was at 1.3085 by 11:00 GMT. Daily aggregate technical indicators forecast a continuation of the surge for the rest of the day. In such case the rate will face the resistance put up by the weekly PP.
Traders' Sentiment
SWFX trader open positions on Wednesday are 73% long. In the meantime, pending commands are 56% short.
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