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"All the risk currencies are performing well today. It's a risk-on day generally....expectations for the Fed are probably behind that to a degree."
- Royal Bank of Canada (based on Reuters)
Pair's Outlook
Pair has been depreciating for almost 2 full trading weeks now. At the beginning we were seeing some attempts to recover some of its losses, but last few days it was full downside movement all the way. It does not seem pair is going to get any significant support until 0.98 area as for the time being it has been moving in the boundaries of Bollinger band.
Traders' Sentiment
Both, the loonie and the greenback are the most bought major currencies across the board, but market participants perceive the latter being stronger as 66% of traders hold long positions on the pair. It is unlikely we will see any major changes in market sentiment since pending orders are equally distributed between long and short traders.
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