© Dukascopy Bank SA
– based on economies.com
Pair's Outlook
The US Dollar appreciated against the Loonie by mid-Tuesday, as the Greenback regained the losses it had against the Canadian Dollar on Monday. Moreover, on Monday the currency pair experienced a lot of volatility to the downside, as the rate even touched the 1.3136 level amidst the day's trading session. By mid-Tuesday the currency exchange rate had surged to 1.3230 levels. However, one of the notable factors of the rates movement is that it did not touch or even reach out to the weekly PP below at 1.3165, which provided support to the rate in its surge.
Traders' Sentiment
SWFX traders' remain largely short, as the market sentiment at the moment is 74% bearish. In the meantime, pending commands are 55% to buy the US Dollar.
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