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— Kenny Fisher, Market Pulse (based on investing.com)
Pair's Outlook
During the first half of Monday's trading session the US Dollar retreated against the Canadian Dollar, as the currency exchange rate retreated and fell below the newly calculated weekly PP, which is located at the 1.3352 level. However, the pair managed to trace back and stay above the pivot point. If the fall continues the Greenback will search for support in the 38.20% Fibonacci retracement level, which is located at the 1.3313 level. If that occurs, it will be clearly observable that the pair has almost not moved for two weeks, as the pair fell to the retracement level on March 14.
Traders' Sentiment
SWFX traders remain bearish, as 58% of open positions are short on Monday. Moreover, 58% of trader set up orders are to sell the Greenback, favoring the Loonie.
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