USD/CAD focuses on reaching 1.30

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The move after the BoC rate cut was not totally surprising given the fact that the market was to some degree expecting it. The market was divided 50/50 [prior to the decision]. The move to sell CAD was a given after the rate cut and [BoC Governor Stephen] Poloz's comments, which were dovish."
- National Bank Financial (based on WBP Online)

Pair's Outlook 
The USD/CAD currency pair kept edging closer to the six-year high yesterday. The Bollinger band was able to prevent the given pair from rallying , as was anticipated; although the 2009 high is yet to be reached. The Greenback held strong against its Canadian counterpart for four straight weeks, and today the US Dollar is expected to rise for the third time in a row this week and pierce the 1.30 major level. The closest resistance now lies around 1.3015, represented by the weekly R3 and the upper Bollinger band, which also form the main target for today. 

Traders' Sentiment 
Bears keep pressuring the bull, as 71% of all positions are short today. The share of purchase orders declined from 60 to 36%.
© Dukascopy Bank SA
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Actual Topics

Fri, 17 Jul 2015 14:27:05 GMT

NZD/USD to bounce back at week's end

On Thursday, the NZ Dollar sustained another loss, which stretched out slightly beyond the 0.65 major level.

Fri, 17 Jul 2015 14:05:04 GMT

AUD/USD remains stuck between 0.7350 and 0.7450

The Aussie appreciated against the US Dollar yesterday, despite all expectations.

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