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- Westpac Callow (based on Bloomberg)
Pair's Outlook
The USD/CAD was little changed amid a low volatility in the market. Generally, the pair seems to be fluctuating near the 2009 April high at 1.246. In case of a break above, the next resistance level is seen at weekly R1 at 1.26. On the other hand, if the pair will break below, the weekly PP should be met at 1.22 and act as a support line.
Traders' Sentiment
While the sentiment from indicators is still neutral, 51% of traders are holding their long positions. Meanwhile, the 50– pip pending orders will be bought for 47% of traders and the 100– pip ones are set to be long by 42% of all.
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