© Dukascopy Bank SA
– based on Daily FX
Pair's Outlook
The US Dollar marked its third consecutive session of losses against the Canadian Dollar on Thursday, as the currency exchange rate started day's trading session at 1.2980 and ended the session at 1.2893. During this fall the pair fell below the supports provided by the 20-day SMA at 1.2944, 55-day SMA at 1.2930 and the monthly pivot point at 1.2908. In the first half of Friday the rate has slightly moved lower, as by 10:45 GMT it was struggling with the weekly S1 at 1.2887.
Traders' Sentiment
SWFX traders are still largely bullish on the pair, as 71% of open positions are long on Friday, which indicates at the pair being overbought. In the meantime, pending orders in the 100-pip range are perfectly neutral at 50%.
© Dukascopy Bank SA