USD/CAD nosedives

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The U.S. dollar "will likely do very poorly in the weeks ahead for very fundamental reasons: the Fed is committed to debasing the value of the currency through higher inflation; the U.S. growth rate is below expectations; and rates will remain low for a very long time." 
- Samson Capital Advisors (based on MarketWatch)

Pair's Outlook

The pair ignored all of the nearby supports yesterday, but most importantly settled beneath the major up-trend line and the 200-day SMA that had to remain intact for the bullish outlook to be valid. Consequently, the decline may not halt until the 2008 lows at 0.9803 are reached. The first obstacle on the way there is 1.0185/51, the zone formed by the monthly S2 and weekly S3.

Traders' Sentiment
The difference between the amounts of long (70%) and short (30%) positions on USD/CAD contracted compared to the data in the previous report, but the overall sentiment still remains strongly bullish. At the same time the number of buy orders managed to grow from 66% to 71%.
© Dukascopy Bank SA
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Actual Topics

Thu, 19 Sep 2013 14:04:44 GMT

NZD/USD stopped dead at 0.8391

Yesterday's rally breached a number of important resistances, including the weekly R1 and monthly R2 levels.

Thu, 19 Sep 2013 14:01:49 GMT

AUD/USD pierced through resistances

Although previously AUD/USD was capped by the monthly R2, the resistance was unable to withstand the bullish pressure initiated yesterday and gave in.

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