USD/CAD attempts to erase Wednesday's losses

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Consolidation since March looks to be nearly over. With EZ risks diminished, the focus is back on the Fed. An explicit signal for a Fed hike in September is near-term USD positive, but USD strength is looking increasingly mature from a longer-term point of view." 
- TD Securities (based on FXStreet) 

Pair's Outlook 
After reaching the resistance cluster around 1.3215, the USD/CAD was pushed back to the 1.31 psychological level yesterday, but instantly returned above the Tuesday's open price. The US Dollar is likely to inch higher today, in spite of technical studies showing mixed signs. The nearest resistance cluster slightly shifted to the downside, now located around 1.3210. However, the Buck is first required to conquer the 1.32 major level, which prevented the given pair from appreciating this week so far. 

Traders' Sentiment 
Although bulls regained some numbers, sentiment remains bearish at 63% (previously 65%). Meanwhile, the portion of orders to acquire the US Dollar edged down from 60 to 56%.
© Dukascopy Bank SA
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