© Dukascopy Bank SA
"The fact that the U.S. government is still shut down is starting to concern markets a little bit more now that we're a week into it. We just had Canadian data, which was quite a bit weaker than expected. That's helped this last little push."
- Scotia Capital Inc. (based on Bloomberg)
Pair's Outlook
Monthly PP failed the pair which found support with the 200-day SMA. Pair has recovered some of these loses, but we don't expect it to recover all of them. However, we don't expect that it will fall much lower either. In our opinion the key support lies with the 1.0375 and 1.0265. Pair should be somewhat capped between the two for some time.
Traders' Sentiment
Canadian dollar is the least bought, only in 27% cases, major currency today. As greenback is in the other side of the spectrum it continues to weigh on the market sentiment. Bulls continue to hold 71% of market participants. Bullish side of pending orders, however, decreased by 7% and is at 56% gauge.
© Dukascopy Bank SA