USD/CAD trades below 1.1000

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"What we have left is where that leaves Governor Poloz. Should he sound as dovish as he did the other week on April 16, that will resurge the weakness story. Should he sound quite neutral, that will bring further gains for the Canadian dollar." 
- Bank of Nova Scotia (based on Bloomberg)

Pair's Outlook

Since 20th of March we have seen a short term downtrend in this pair; however, we expect it to end soon, most likely the pair should not slip lower than 1.0900. Around 1.0900 there are many support levels and that should protect the pair from a further decline. We are bullish on this pair and we expect it to appreciate towards weekly R1 at 1.1047; however, it has to cross current resistance level at 1.1000.
  

Traders' Sentiment

The sentiment towards USD/CAD remains strongly bullish, being that the percentage of long positions open on this pair has fallen from 72% to 71% since the previous report. As for the orders placed 100 pips from the spot, there are now 69% to buy.

© Dukascopy Bank SA
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Actual Topics

Mon, 07 Apr 2014 15:16:42 GMT

NZD/USD trades around 0.8600

Last week we saw the pair making some corrections; however, on Friday NZD/USD found some impetus around 2013 4Q high at 0.8543 and it has advanced to weekly PP at 0.8608.

Mon, 07 Apr 2014 15:16:21 GMT

AUD/USD touches weekly PP at 0.9267

Through last week the pair traded between 0.92 and 0.93, today this sideways trend is continuing.

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