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- BMO Capital Markets (based on Reuters)
Pair's Outlook
It seems that the pair is still preparing the ground for the breakthrough and it still is trading around the lower boundary of the pattern that formed on July. All but daily technical levels are also strongly bullish, thus making an advance even more realistic outcome of the current standstill. Currently, the most significant supports for the pair is the monthly PP together with the previously mentioned up-trend's support line.
Traders' Sentiment
Even though the US currency is becoming cheaper relative to the Canadian peer, the amount of bullish traders slid from 72% to 71%; however, that can be explained by the sentiment already being distinctly bullish.
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