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"Canada is lacking some momentum or a boost here, so it's come off those recent highs."
- CIBC World Markets (based on Reuters)
Pair's Outlook
Although it was probed few times already the downtrend resistance connecting July and August highs is keeping the pair depressed. Only a solid close above it would put monthly R1 at 1.0528 on the map. Dip below 1.0410/400 could provoke a major sell off to 1.0334 although 55 and 100-day SMAs might stall the par in case of that happening.
Traders' Sentiment
Market is continuing to be dominated by the bulls. At the moment they account for 70% (4% less than yesterday) of all market participants and 60% of all pending orders are set in their favour as well.
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