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- KnightsbridgeFX.com (based on Reuters)
Pair's Outlook
After yesterday's dive beneath the monthly S1 at 1.0859 the greenback has managed to regain some value to trade around this level again. In case the pair closes above the monthly S1 then we could see it attacking the 20-day SMA and weekly PP at 1.0880/87 and later the major level at 1.0900. However, if the pair fails to breach this level then it could continue to consolidate around this level or slip lower towards the 200-day SMA at 1.0819.
Traders' Sentiment
At the moment of writing 67% of the SWFX market participants are expecting the U.S. Dollar to gain value against the Canadian counterpart. Concerning the orders placed 100 pips from the spot, there are slightly less commands to sell—59%.
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