USD/CAD is little changed above monthly S1

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Some of the rally in the Canadian fixed income market is also partially due to some seasonal effects, we tend to see yields fall in the month of May."
- TD Securities (based on Reuters)

Pair's Outlook
The Canadian Dollar is still struggling to gain bullish momentum and it trades around the monthly S1 at 1.0859. The monthly support level just below pair's trading level has been rather significant as it has held the currency pair for more than two weeks. Therefore, if the greenback slips below this level we could see a selloff. For pair's bears the next target could be the weekly S1 and 200–day SMA at 1.0833/21.

Traders' Sentiment
The pair's sentiment has not changed for three straight days and for last five out of six days; therefore, there are still 67% of the SWFX market participants that expect the greenback to appreciate against the Loonie.
© Dukascopy Bank SA
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Actual Topics

Thu, 29 May 2014 15:37:26 GMT

NZD/USD prolongs its decline

The Kiwi extended its yesterday's decline and is trading around the weekly S2 at 0.8451. We expect a further retreat towards the major level at 0.84 that will be driven by pair's bears.

Thu, 29 May 2014 15:37:09 GMT

AUD/USD reverses yesterday's losses

The Aussie has managed to reverse yesterday's losses and even to approach the major level at 0.93. This jump was rather unexpected and we do expect some bearish corrections.

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