© Dukascopy Bank SA
– based on Daily FX
Pair's Outlook
The Greenback had not almost moved in the first half of Monday's trading session against the Loonie, as the currency exchange rate remained firmly near the 1.3150 level. However, the pair had experienced more volatility to the upside, as it managed to break through a resistance cluster near 1.3180, where the weekly pivot point and 20 and 200-day simple moving averages are located at. Due to that it is most likely that the rate will continue to fall, as the next notable support level is located at 1.3078, where the monthly pivot point is located at.
Traders' Sentiment
Traders have slightly decreased their bearishness, as 64% of open positions are short. In the meantime, pending commands are almost neutral, as 52% set up orders are to buy.
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