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"Risky assets generally are under a little bit of pressure today. I think the lead is really coming from the U.S. equity futures."
-Adam Cole, RBC Capital Markets (based on Reuters)
Pair's Outlook
USD/CAD unexpectedly breached weekly PP at 0.9895. However, weekly R1 and monthly S1 at 0.9942 should slow down pairs advance pushing it closer to 0.9900 level.
Traders' Sentiment
Trader sentiment remains bullish slightly above 70% mark almost for a week now. Amounts of buy orders remains around 62% mark as well. This suggests that market participants are waiting for the pair to breach some key level.
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