"The Canadian dollar is one of the worst-performing developed-market currencies."
— Bloomberg
Pair's outlook
By the middle of Thursday's trading session the Loonie had suffered major losses against the US Dollar, as the USD/CAD currency exchange rate had broken past two weekly resistance levels. The whole day was a representation of the Buck's surge against the Canadian, as the rate rebounded from the 1.3650 mark near midnight and began a surge. Due to the fact that the weekly R1 at 1.3752 was broken the pair is set to reach once more for the long term pattern's upper trend line, which is located at the 1.3815 level.
Traders' sentiment
SWFX traders are largely bearish on the pair, as 75% of trader open positions are short, and 67% of trader set up orders are to sell the Buck.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | -50% | -44% | -42% | |
| Orders | -34% | -34% | -30% | |
| Indicator | 1D | 1W | 1MN | |
| MACD (12; 26; 9) | Buy | Buy | Buy | |
| RSI (14) | Neutral | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Sell | Neutral | Buy | |
| ADX (14) | Buy | Neutral | Neutral | |
| CCI (14) | Neutral | Sell | Neutral | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Buy | Buy | Buy | |
| SAR (0.02; 0.2) | Buy | Buy | Buy | |
| Aggregate | ↗ | ↗ | ↑ | |