© Dukascopy Bank SA
- TD Securities (based on the Wall Street Journal)
Pair's Outlook
The U.S. Dollar loses its value today relative to its Canadian counterpart, as the price slides from a 1.0132 level, where the 100-day SMA intersects with the 20-day SMA. The pair is in a vague situation, as the price is below the major moving averages and in the lower part of Bollinger bands, but still attempts to strengthen and to start a bullish trend. In case it breaches a 1.0132 level, the pair should step over 1.0174, where the 55-day SMA is currently positioned.
Traders' Sentiment
SWFX market investors prefer to hold bullish positions and experience a recovery in USD/CAD. There are 72% of long positions in the market. Placed orders segment is bullish with 72% of buy orders.
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