© Dukascopy Bank SA
"The overall trend has been a grind lower for the exchange rate."
-Jack Spitz, National Bank of Canada (based on Bloomberg)
Pair's Outlook
USD/CAD has appreciated for a third day, but it is very unlikely the pair will be able to advance above weekly and pivot points at 0.9931/45 in the near future. At the same time it is possible that pair will demonstrate price correction action and will try to breach 0.9850.
Traders' Sentiment
During the weekend market bullish sentiment increased and reached 75% gauge. Distribution of market sentiment does not predict any changes as 70% of traders have posted buy orders in the range of 100 pips from the current market price.
© Dukascopy Bank SA