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- Nick Cawley, Daily FX
Pair's Outlook
During the first half of Monday's trading session the Greenback remained rather flat against the Loonie, as the currency exchange rate was fluctuated near the 1.3450 level. It is clear that the markets have begun to expect a fundamental change, as the Federal Reserve is set to increase its interest rate by 0.25%. Due to that the pair is most likely going to surge. In that case the rate would climb first to the weekly R1 at 1.3517 and monthly R2 at 1.3533. Afterwards the rate would surge to the combined resistance of the 50.00% Fibonacci retracement level at 1.3576 and the upper Bollinger band at 1.3587.
Traders' Sentiment
SWFX traders have increased their bearish sentiment on the pair, as 68% of open positions are short on Monday. Meanwhile, trader set up orders have not changed, as 55% of orders are set to sell the Buck.
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