USD/CAD consolidates near 0.9837/08

Bullish market participants do not seem to be disposed to giving in easily, but resist debasement of the greenback with 0.9837/08 acting as a springboard and initiating short-covering. Provided that this zone does not withstand, 0.9860/55 may come under risk, as 0.96 will then be set as the next goal. Only a soon close above 0.9942 and, desirably, above 0.9991/76 (200-day SMA) would imply a price increase in the future.

The same share of the market (67%) as yesterday stays positioned in favour of the greenback, which is generally the most popular currency among its main counterparts, on average being bought in 59% of cases. On the other hand, buy and sell order camps are of equal size at the moment (50%).