USD/CAD dives further; 0.9954 is targeted by bears

The US dollar plummeted for the fifth day in a row, and it seems it will remain under a downward pressure. However, if a bullish trend continues, 1.0023 (PP Weekly) might become the first resistance level for bulls, followed by 1.0079 (200-day SMA) and 1.0119 (50% Fibo) in case of a successful breakout.

Currently, clear majority of traders (72%) hold long positions on the pair. However, in the range of 100 pips sell and buy orders are almost equally divided in between the traders, implying a possibility of rather sharp shift in the sentiment.