USD/CAD renews pressure on 0.9848/37

USD/CAD has gently touched the up-trend resistance at 0.9881/80 and is challenging support at 0.9848/37 at the moment, which in turn guards some of the lower lines, namely 0.9811 and 0.9797/79. Nevertheless, a dip down to 0.9760/42 is viewed as a likely event, considering decreased importance of the aforementioned levels and "sell" signals of indicators.

The general attitude of market participants towards USD/CAD remains unchanged—strongly bullish, since 73% of positions opened are long and the rest (27%) are short on the currency pair. The ratio between buy and sell orders is not giving any signals, being 51% to 49%, respectively.