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- Cantor Fitzgerald LP (based on Bloomberg)
Pair's Outlook
The market bulls were not ready to let the CAD tumble versus its counterpart and the pair regained some part from the previous day loss. A slight roll- back from the April 2009 high at 1.246 happened throughout the day. In case of a break higher, the next level that should bring a resistance is the Bollinger band at 1.256. However, the pair seems to be highly overbought now.
Traders' Sentiment
The USD/CAD pair is bought in a minority of the case, since 47% of traders are long. Meanwhile, the 50– pip pending orders are set to buy for 31% of traders and 46% of all will buy once the pair reaches 100– pips.
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