USD/CAD rebounds from 0.9848/37

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The Canadian dollar lost ground because the U.S. dollar spiked on worse than expected European data … that's when the U.S. dollar started popping higher."
- Jitneytrade (based on Reuters)

Pair's Outlook

USD/CAD is returning back to the up-trend resistance line that was forming a lower edge of the triangle pattern the price has breached recently. This recovery has been initiated after an encounter with 0.9848/37, but has a decreased likelihood of overcoming 0.9880. If the pair advances nevertheless, additional hurdles are to be found at 0.9903/0.9894 or 0.9916/14, as they secure bearish outlook.

Traders' Sentiment
The share of bullish towards the currency pair traders has increased up to 72% after the weekend, whereas bears are losing their positions and currently constitute 28% of the market. As for the orders, 44% of them are to buy the U.S. Dollar and 56% are to sell it against the loonie.
© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

Souscrire
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.