© Dukascopy Bank SA
"Risk is back on, so the Australian dollar is up, equity futures are up, the Canadian dollar is up."
-Firas Askari, Bank of Montreal (based on Bloomberg)
Pair's Outlook
USD/CAD Opened a week with a sharp drop but encountered resistance from weekly (S1) and monthly (S2) pivot points at 0.9850. It should maintain pair's further depreciation for a short amount of time, however it is likely pair will test 0.9818 in the course of next few days.
Traders' Sentiment
Trader sentiment remains bullish slightly above 70% mark. However, amount of buy orders decreased by 8% to 62% mark suggesting possible weakening of traders sentiment in the near future.
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