USD/CAD keeps struggling to take the six-year high

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Technically, USDCAD looks to be in overbought territory on a daily, weekly and monthly RSI and at time of writing, USDCAD is trading near our daily fair value estimate of 1.2970 with WTI oil sub-$50/bbl. In the meantime, we see initial support around the 1.2915/1.2920 area."
- TD Securities (based on FXStreet)

Pair's Outlook 
On Wednesday, the Greenback surged against its Canadian counterpart and breached the 1.30 barrier. Furthermore, the USD/CAD closed just 20 pips away from the 2009 high, but is yet to conquer that area, as a decline is expected today. The US Dollar is likely to retreat under 1.30, while the possibility of negating yesterday's gains also persists, as the immediate support remains unchanged, namely the weekly PP. Meanwhile, technical studies are giving mixed signs, unable to confirm the probability of a slump today.  

Traders' Sentiment 
Bears keep prevailing over bulls, as 71% of traders are short the Buck today. The portion of buy orders increased from 56 to 59%.
© Dukascopy Bank SA
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Actual Topics

Thu, 23 Jul 2015 14:20:04 GMT

NZD/USD attempts to break out of the descending channel

Although the Kiwi reached a five year low yesterday, the NZD/USD still closed trade at 0.6617, thus, remaining relatively unchanged.

Thu, 23 Jul 2015 13:58:03 GMT

AUD/USD gravitates towards 0.74

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