USD/CAD puts pressure on June high

USD/CAD is struggling to overcome the resistance at 1.0979/60, represented by the weekly R1 and June high. If it does, however, there will be no reasons to doubt Buck's ability to rise up to the monthly R1, where the rally can also take a break before continuing to advance towards the 2014 high. In the meantime, the pair is supported by the 200-day SMA at 1.0917 and by the weekly PP together with the rising trend-line at 1.0888

As the U.S. Dollar is getting more expensive, the market participants are selling it against the Loonie, and the distribution now is in favour of the latter—57%. As for the orders, 71% of them are to sell the Buck (there were 55% of them 24 hours ago).