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- Toronto-Dominion Bank (based on The Globe and Mail)
Pair's Outlook
USD/CAD continues its trip north, as the price increases for a second day. Today the loonie touched the 100-day SMA and weekly pivot point level at 1.0133. This level might be the first serious resistance in a current correction scenario and the second one should be at 1.0181, where the 55-day SMA is positioned. However, a possibility of a continuation of a downside trend remains high, as the pair is still beneath the major SMAs and any attempt to increase can be suppressed.
Traders' Sentiment
Bulls have a 74% share in SWFX market, meaning that the market expects a price recovery soon. Waiting orders market is strongly bullish with 80% of buy orders.
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