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"The Bank of Canada, despite Carney's comments, has been very consistent that they feel a modest normalization of interest rates will be warranted in the future."
- Bank of New York Mellon Corp . (based on Bloomberg Businessweek)
Pair's Outlook
Resistance given by Bollinger band at 0.9868, was too much for the pair as it lost almost all of yesterdays gains and currently is supported only by 20 bar SAM at 0.9814. Pair should depreciate further, however drop below 0.98 is unlikely and pair should remain in 0.980-0.986 area.
Traders' Sentiment
2% of traders witched sides, but 72% of traders continue to hold long positions on the pair. Distribution of pending does not suggest any major changes as 52% of all pending orders are to go long.
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