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Pair's Outlook
The US Dollar continued to depreciate against the Canadian Dollar by mid-Tuesday, and the day marked the fourth consecutive session of losses. Previously, the currency exchange rate ended Monday's trading session at 1.2931, which is exactly below the first weekly support level at 1.2933. The currency exchange rate managed to move lower to 1.2898 already by 11:00 GMT on Tuesday, and it is most likely to fall at least to the 1.2875 level, where the next weekly support level is located at.
Traders' Sentiment
SWFX trader sentiment at the moment is 52% bullish. However, pending commands are 57% to sell the currency pair, which indicates at a continuation of the downward movement.
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