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"It's just the usual story that when the U.S. dollar is bid and everything else is selling off, Canada tends to get dragged up on the crosses because of its close link to the U.S."
-RBC Capital Markets (based on Reuters)
Pair's Outlook
After a week of mild gains pair gained significantly today after receiving a push from 20 bar SMA at 0.9780. Stochastic indicator suggests that pair has not lost, on contrary—gained, momentum and current stop at 0.9821/24 is just a temporary setback.
Traders' Sentiment
Traders remain significantly bullish on the pair—72% of all open positions are long on the pair. However, amount of pending buy orders dropped significantly—from 75% to 54% during the weekend.
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