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- RBC Economics (based on Bloomberg)
Pair's Outlook
The US Dollar depreciated versus the Canadian today, cutting some of the previous gains. Currently, the pair is trading below the weekly S1 at 1.247 with a next support level- the monthly PP at 1.237. Meanwhile, the pair has entered a neutral RSI area, yet, a slight divergence is seen. The 55– 100– and 200– day SMA's are moving higher, but losing the momentum.
Traders' Sentiment
The market added some participants and the sentiment appears to be bullish with 56% of buying positions. 35% of traders hold their 50– pip pending orders long and the 100– pip ones are rather sold, with 43% of buying orders.
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