© Dukascopy Bank SA
- TD Securities (based on Reuters)
Pair's Outlook
After a prolonged period of hesitation USD/CAD has finally confirmed its bearish intentions, as a rising support line has been breached, though 0.9837/08 still holds and is expected to decelerate development of a down leg further on. Still, there is 0.9760/55 ahead, buying pressure at which could negate the downward momentum.
Traders' Sentiment
Most of SWFX market participants (68%) remain convinced that the greenback is going to outperform the Canadian Dollar, whereas 32% of them deem an alternative scenario to be more likely. The ratio between buy and sell orders is 46% to 54%, respectively, and thus is neutral.
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