© Dukascopy Bank SA
– based on Reuters
Pair's Outlook
With the start of a new week the US Dollar depreciated by mid-Monday against the Canadian Dollar, as the currency exchange rate had touched the level of 1.3135, which is below the weekly PP at 1.3165. Previously, the pair reached new heights, as the Greenback set a seven week high against the Canadian Dollar, as the currency rate set a new record level at 1.3249. In the meantime, daily aggregate technical indicators forecast a surge for the rate during the day, which might occur if the situation fully reverses itself.
Traders' Sentiment
SWFX traders' sentiment at the moment is 72% bearish. In the meantime, pending commands are 52% to sell the US Dollar.
© Dukascopy Bank SA