© Dukascopy Bank SA
- Coutts (based on Reuters)
Pair's Outlook
None of the nearest resistances were able to contain sudden bullishness of USD/CAD, falling victims one by one to the surge that topped at 1.0378. The price increases forth day in a row and now there are no formidable levels between the spot and last year's high. Judging by the technical indicators, 1.0342 could attempt to slow down the advancement, though the pair is decisively moving en route to 1.0447.
Traders' Sentiment
Those who were bullish on USD/CAD, specifically 74.5% of SWFX marketplace participants, turned out to have made a correct assumption by betting on U.S. Dollar's appreciation, the pair has nearly recovered 200 pips from the local low. Meanwhile, there is no difference among the amounts of buy and sell orders.
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