© Dukascopy Bank SA
- Bank of Nova Scotia (based on Bloomberg)
Pair's Outlook
Situation in USD/CAD pair is ambiguous, as the pair is still bounded by the resistance at 1.0326, but the price does not demonstrate any bearish sentiments. The closest support lies at 1.0277, which is the weekly PP, and the next resistance is the weekly R1 at 1.0337. However, the pair remains in an oversold zone, since the RSI has a value of 71.
Traders' Sentiment
The spot market sentiments fluctuate around an equilibrium, as bulls have 52% and bears have 48%. Pending orders' market is orientated to continuation of the increase, as 68% of the total amount are long orders and 32% are short.
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