© Dukascopy Bank SA
"It's a quiet start to the week, very little in the way of data."
- BMO Capital Markets (based on Reuters)
Pair's Outlook
Despite existence of risks that USD/CAD might fall through the support at 1.0303/1.0285, the currency pair managed to stay afloat. The price is now slowly gaining upward momentum, as suggested by the technical studies on all relevant time-frames, but there are still threats to the nascent recovery in the form of fairly important resistances at 1.0335 and 1.0395/73.
Traders' Sentiment
The bulls continue taking up an absolute majority of the traders in USD/USD, being that 73% of them made bets on a stronger U.S. Dollar in the future. However, the gap between the orders to buy and sell the greenback is minimal, it amounts merely to four percentage points in favour of the former.
© Dukascopy Bank SA