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- Klarity FX (based on Reuters)
Pair's Outlook
If the first three days of the week came as a gradual recovery after Friday's drop, then today has been a different story as the US Dollar slipped towards the 20-day SMA and weekly PP at 1.1324/19. The pair seems to be depreciating towards the lower trend-line of the current up-trend that started at the beginning of July. However, in the longer term the USD/CAD cross is likely to reach the 1.15 mark, with its strongly bullish bias.
Traders' Sentiment
More than 70% of the SWFX market participants think that the U.S. Dollar is going to outperform the Canadian counterpart. However, this number could go down, as 63% of orders are placed to sell the greenback.
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