USD/CAD keeps testing three-week lows

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"An October Fed hike how appears well off the cards, and even our core view of a hike in December appears shaky." 
- Bank of New Zealand (based on The New Zealand Herald) 


Pair's Outlook 
The US Dollar sustained a rather heavy loss against its Canadian counterpart, amid worse-than-expected Non-Farm Payrolls figures on Friday. As a result, the pair not only breached the two immediate supports, but also pierced the third one, reaching a two-week low. The Greenback remains weak and under pressure, likely to experience another decline, with the closes support located around 1.3108, namely the Bollinger band. Nevertheless, a rebound to the 55-day SMA is also possible, as weekly technical studies retain distinctly bullish signs. 

Traders' Sentiment 
Traders' sentiment barely changed, with 53% of all positions being long. The share of buy orders now takes up only 22% of the market.
© Dukascopy Bank SA

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