USD/CAD holds above 0.9848/37

USD/CAD is currently unable to overcome the force of gravity towards 0.9848/37 and is thus charting candlesticks with minimal differences between daily highs and lows. The near-term rallies are possible, but are expected to be shallow and thereby capped at 0.9889/80 or 0.9916/0.9898. Overall the pair retains bearish bias, even though a down-trend was hardly visible during the last four months.

Merely one out of four traders anticipates the Canadian Dollar to outperform the buck, while an overwhelming majority of them (75%) finds bullish behaviour of the pair as a more probable. As for the orders, there is no particular signal—46% of them are buy and 54% are sell ones.