— Jamie Saettele, Daily FX
Pair's Outlook
Since the FOMC decision on March 14 the Greenback has almost not moved against the Loonie, as on Monday the currency exchange rate remained above the 1.33 level. During the first half of the day's trading session the currency pair once more found support in the 100-day SMA, which on Monday was located at the 1.3293 level. During the move the pair moved higher and passed two resistance levels. However, the future direction of the rate is still lower. The markets are just waiting for the push, which will finally move the pair out of its stagnation.
Еraders' Sentiment
SWFX traders remain bearish on the pair, as 55% of open positions are short. Meanwhile, 56% of trader set up orders are to sell.
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