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– Jamie Saettele, Daily FX
Pair's Outlook
The US Dollar continued its surge against the Canadian Dollar on Thursday, and by mid-Thursday the rate faced the resistance put up by the weekly PP at 1.3500. However, the pair had reached above it and touched the 1.3536 level in the first half of the day, and this factor indicates that the resistance will be broken. In such scenario the pair is likely to surge up to once more challenge the resistance cluster located around the 50.00% Fibonacci retracement level, which is located at 1.3576.
Traders' Sentiment
SWFX trader bullish sentiment has increased by 2%, as 58% of open positions were long on Thursday. Meanwhile, trader set up orders remain bearish, as 53% of pending commands are to sell the Greenback.
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