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– The National Bank of Canada (based on investing.com)
Pair's Outlook
The US Dollar remained rather unchanged against the Canadian Dollar in the past few trading sessions. The reason for that is that the pair seems to be finding support at the 1.32 mark. However, that is possibly about to change due to changes in the resistance levels. The 100-day SMA is set to close in on the weekly PP, which is located at 1.3294. The combined resistance might provide a bounce off with the needed inertia to push the rate lower. On the other hand, the pair might ignore the combined resistance cluster, as the fundamental economic situation is about to change.
Traders' Sentiment
Traders have increased their bullish outlook by 2%, as 62% of open positions were long mid-Tuesday, compared to 60% on Monday. Meanwhile, 51% of trader set up orders were to buy the Buck.
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