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– Jamie Saettele, Daily FX
Pair's Outlook
The US Dollar remained almost unchanged against the Canadian Dollar by the middle of Friday's trading session. The reason for that might be the fact that the markets were expecting US fundamental data in the afternoon. Due to that reason two possibilities are open for the day. In the first case the data might be positive and propel the rate up to the 1.3134 level, where a strong resistance cluster begins. However, the cluster has not been tested during the week. A second and more likely outcome is that after the data release the rate will decline and move pass the support cluster near the 1.30 mark.
Traders' Sentiment
SWFX trader opinion has not changed a little bit during the past 24 hours, as 65% of open positions remain long, and 59% of trader set up orders are to buy the Buck.
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