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– – based on economies.com
Pair's Outlook
The US Dollar was recouping its previous losses against the Canadian Dollar on Monday. However, the currency exchange rate has resumed going downwards, as the Loonie gains strength on Tuesday. The pair started day's trading session at 1.3126, and it has fallen to 1.3062 by 11:00 GMT, where it met resistance put up by the 20-day SMA. If the pair moves lower, it will face the monthly PP at 1.3043. Although, daily aggregate technical indicators forecast a surge for the pair later during the day, and in such case the nearest resistance is the weekly PP at 1.31.
Traders' Sentiment
SWFX trader open positions on Tuesday are 73% long. In the meantime, pending commands are 56% short.
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