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We'll see C$1.03 by the end of the first quarter. Which is definitely more bearish than the market."
- Toronto-Dominion Bank (based on Bloomberg)
Pair's Outlook
Pair is starting to give signs of being range bound between 100-day SMA at 0.994 ad weekly PP at 0.9907, although the latter could be simply extended to 0.990. For the time being it is rather unclear what might be medium to long term outlook as pair seem to be having enough propensity to step up to the parity condition, but lack of conclusive technical readings puts significant pressure on the pair due to the outlook of the major market participants.
Traders' Sentiment
Market attitude towards the pair is remaining bullish at around 60% for quite some time now. Very similar situation is observable today—61% of traders buy greenback versus loonie. Pending orders should keep supporting bulls as well—63% of them are to go long.
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