© Dukascopy Bank SA
- RBC Capital Markets (based on Reuters)
Pair's Outlook
USD/CAD is currently unable to overcome the force of gravity towards 0.9848/37 and is thus charting candlesticks with minimal differences between daily highs and lows. The near-term rallies are possible, but are expected to be shallow and thereby capped at 0.9889/80 or 0.9916/0.9898. Overall the pair retains bearish bias, even though a down-trend was hardly visible during the last four months.
Traders' Sentiment
Merely one out of four traders anticipates the Canadian Dollar to outperform the buck, while an overwhelming majority of them (75%) finds bullish behaviour of the pair as a more probable. As for the orders, there is no particular signal—46% of them are buy and 54% are sell ones.
© Dukascopy Bank SA