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- Blackwell Global (based on Investing.com)
Pair's Outlook
The US Dollar is depreciating against the Canadian Dollar, as the currency pair is recovering after the results of the UK's referendum on EU membership turned out to favor the leave option. At the moment, the currency exchange rate is at 1.30, which is just above the support provided by the 23.60% Fibonacci retracement at 1.2988. On the other side, the pair is pressured by the 100-day SMA at 1.3071, and the daily aggregate technical indicators forecast a surge for the Greenback against the Loonie.
Traders' Sentiment
SWFX traders are still bearish on the pair, as 57% of open positions are short. In the meantime, pending orders in the 100-pip range have become more bullish, as 64% of orders are long.
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