© Dukascopy Bank SA
"The weakness in the U.S. economy is bound to spur talk of the Federal Reserve stepping in with its bond-buying program to boost the economy. This would, however, flood the economy with dollars and weaken it."
- WSJ
Pair's Outlook
The pair rallied today after the release of US macroeconomic data. If the bearish reversal takes place, 1.0200 (initial support line) is
likely to be targeted by the bears. Once this level is successfully approached, 1.0170 (S1 Weekly) and 1.0082 (200-day ma) are going to be in focus among bearish investors.
Traders' Sentiment
The overwhelming majority of traders (86%) keep long position on USD/CAD whereas 14% of investors expect the pair to decline over the short term. Over 100-pip range from the latest market price, 85% of market participants expect the pair to advance further.
© Dukascopy Bank SA