© Dukascopy Bank SA
- Toronto-Dominion Bank's TD Securities unit (based on Bloomberg)
Pair's Outlook
Today has given the necessary boost for the pair to end the week with gains. Although, until today the pair was losing value, raising the concerns of a possible sell-off. For now, the biggest challenge most likely will be the major level at 1.13, which has been breached only once this year. However, with the weekly and monthly technical indicators being strongly bullish this level is very likely to be approached.
Traders' Sentiment
As evidenced by the SWFX traders' sentiment, about seven out of ten traders believe that the U.S. Dollar is going to appreciate relative to the Loonie. In the meantime, the portion of sell orders grew, from 68% to 69%.
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