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- Barclays (based on CNBC)
Pair's Outlook
The Greenback suffered a 43-pip loss against its Canadian counterpart, but remained at the highest level for at least 13 years. The Loonie received another boost with the rebound in oil prices earlier today, falling back under the major level of 1.45. The closest support level is located around the 1.44 level in face of the monthly R2 and the weekly PP, while the Bollinger band at 1.4590 marks the possible upper boundary. Technical indicators retain mixed signals, but the USD/CAD weakness is expected to persist, with trade closing under the 1.45 area.
Traders' Sentiment
There are now 72% of traders holding short positions, compared to 73% on Monday. The share of USD buy orders slid from 63 to 54%.
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