© Dukascopy Bank SA
– based on Bloomberg
Pair's Outlook
The US Dollar continued to score gains on Monday against the Canadian Dollar, as the currency exchange rate traded above the 1.31 mark by 11:15 GMT. In the middle of Monday's trading session the currency pair faced no resistance up to the level of 1.3130, where the first weekly resistance is located at. Daily aggregate technical indicators forecast a continuation of the surge during today's trading. However, as it is accustomed on Monday, Dukascopy Bank has calculated a fresh weekly outlook for the pair, which forecasts that on a weekly timeframe the rate will remain unchanged.
Traders' Sentiment
SWFX trader sentiment has shifted, and at the moment it is 54% bearish. However, pending commands remain 57% to sell the currency pair on Monday.
© Dukascopy Bank SA