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"If we don't get QE ... then we should see a big (U.S. dollar) selloff across the board and that would see (U.S.) dollar/CAD pushing higher."
-RBC Capital Markets (based on Reuters)
Pair's Outlook
Pair appreciated further today, but it seems that effects of Double Top formation on 1H chart yesterday are wearing of and pair will resume its depreciation in the near future. On its track down pair should remain bounded by Bollinger band and downtrend support which currently are at 0.9726/11.
Traders' Sentiment
Some bulls relinquished their positions, but market sentiment remains bullish and at the moment 72% of traders hold long positions on the pair. Share of pending buy orders increased by additional 4% since yesterday (8% this in last three days) and currently 59% of all posted orders are buy orders.
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