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- Jamie Saettele, Daily FX
Pair's Outlook
The US Dollar was almost unchanged against the Canadian Dollar during the first half of Friday's trading session. The reason for that was the 200-day simple moving average, which was located at 1.3122 on Friday. Due to various factors, including the fact that the rate has already reached above the SMA more than once, the resistance is set to be broken, as soon as more liquidity flows into the FX markets. However, the Greenback would then still face the resistance provided by the monthly S1 at 1.3147 against the Loonie.
Traders' Sentiment
SWFX market sentiment remains bullish, as 55% of traders already have open long positions. In the meantime, 60% of trader set up orders are to buy the Buck.
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