© Dukascopy Bank SA
- BMO Capital Markets (based on Reuters)
Pair's Outlook
This week the pair has slightly declined; although, all in all the pair's value has not changed much. The sentiment towards the pair is also mixed; therefore, we could continuously see a sideway movement. Nonetheless, if the pair slips below the 200-day SMA at 1.0823, which has not happened since October, then we might see a decline below the major level and weekly S2 at 1.0800/1.0796. The monthly tecnhicals are largely to the upside, thus in longer horizon the pair might recover.
Traders' Sentiment
An overwhelming majority (72%) of the traders believe that the greenback is going to regain its bullishness and increase in value relative to the Canadian currency.
© Dukascopy Bank SA