"Markets are concerned with the lack of discretion from President Trump."
— The National Bank of Canada (based on investing.com)
Pair's outlook
During the first half of Wednesday's trading session the US Dollar fluctuated in the same range as on Tuesday against the Canadian Dollar. The pair is bouncing between the resistance of the 20-day SMA and weekly S1, respectively at 1.3641 and 1.3649 levels, and the support provided by the weekly S2 at 1.3583 and the 50.00% Fibonacci retracement level, which is located at the 1.3574 mark. The retracement level is the one, which held the pair from falling further. However, the pair is most likely going to continue on its path lower, as a medium term descending channel pattern seems to be revealing itself.
Traders' sentiment
SWFX traders are not changing their minds, as 72% of open positions remain short. In addition, 64% of trader set up orders are to sell.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | -44% | -44% | -44% | |
| Orders | -28% | -32% | -26% | |
| Indicator | 1D | 1W | 1MN | |
| MACD (12; 26; 9) | Buy | Buy | Buy | |
| RSI (14) | Neutral | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Sell | Neutral | Buy | |
| ADX (14) | Buy | Neutral | Neutral | |
| CCI (14) | Buy | Sell | Neutral | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Buy | Buy | Buy | |
| SAR (0.02; 0.2) | Sell | Buy | Buy | |
| Aggregate | ↗ | ↗ | ↑ | |