USD/CAD rejected by 1.0187/69

A surge that was commenced right after USD/CAD touched upon 1.0106/1.0096 last week proved to be unsustainable, as supply at 1.0187/69 and 1.0235/19 did not allow further advancement. Consequently, the pair is likely to move in accordance with the daily technical studies, almost all of which are pointing downwards and thereby suggest a re-test of 1.0106/1.0096.

A slight depreciation of the U.S. Dollar relative to its northern counterpart entailed a decrease in the share of bullish traders in the market (from 71% to 67%). Nonetheless, the ratio between the buy and sell orders remains more or less the same as yesterday, namely 79% to 21%.