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- Henry Liu, Henry Liu Forex (based on investing.com)
Pair's Outlook
The US Dollar bounced between two levels of significance against the Canadian Dollar by the middle of Monday's trading session. From the downside the currency exchange rate faced the 20-day SMA, which is located at 1.3096. On the other hand, the newly calculated weekly PP at 1.3121 provides resistance to the pair. There are two possible outcomes to the situations. If the support level is passed, the rate might fall as low as 1.3032, and, if the resistance is broken, the pair would surge up to the 1.3150 mark.
Traders' Sentiment
Traders have increased their long positions, as 59% of SWFX open positions are long on Monday, compared to 56% previously. Meanwhile, 52% of trader set up orders are to sell the Buck.
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