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- TD Securities (based on Reuters)
Pair's Outlook
There have been little changes, after at the beginning of the week the pair slipped rather significantly and approached 1.0953. The majority of the technical indicators are mixed; however, if we look in the longer time frame then advance is expected. We do think that the U.S. Dollar will recover from Monday's losses, the next resistance level is around the major level at 1.1000. If this level is breached then the pair might climb towards the weekly PP and 100-day SMA at 1.1029/38.
Traders' Sentiment
The sentiment towards USD/CAD slightly improved, but a majority of the market participants are still expecting the greenback to underperform, namely 58% of them.
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