© Dukascopy Bank SA
"The partial holiday in North America today meant there were no macro catalysts for the FX market to digest. That left a very thin market and a micro-thin range for the Canadian dollar."
- TD Securities (based on The Wall Street Journal)
Pair's Outlook
Pair continues to struggle with the downtrend (connecting June and July highs) resistance. Advance above it would put August high at on the map. Failure at 1.05 could provoke a sell of till the cluster of support levels at 1.0432/400. Dip below it would lead to a sell off to 1.0270.
Traders' Sentiment
Bulls are heading to having crippling control on the market as bullish side of pending orders increased by 4% and is at 61% gauge today. Sentiment remains at the same place where it was yesterday, with bulls holding 72% of all open positions.
© Dukascopy Bank SA