© Dukascopy Bank SA
- TD Securities (based on Reuters)
Pair's Outlook
The Canadian Dollar is still struggling to gain bullish momentum and it trades around the monthly S1 at 1.0859. The monthly support level just below pair's trading level has been rather significant as it has held the currency pair for more than two weeks. Therefore, if the greenback slips below this level we could see a selloff. For pair's bears the next target could be the weekly S1 and 200–day SMA at 1.0833/21.
Traders' Sentiment
The pair's sentiment has not changed for three straight days and for last five out of six days; therefore, there are still 67% of the SWFX market participants that expect the greenback to appreciate against the Loonie.
© Dukascopy Bank SA