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- TD Securities (based on Reuters)
Pair's Outlook
A support area at 0.9961/52 continues to underpin the pair, while the market participants are unwilling to build up exposure to the U.S. Dollar and thereby push the price upwards. In the meantime, daily indicators remain heavily bullish, implying that USD/CAD will eventually lift off the current levels, choosing the path of least resistance—towards a recent peak at 1.0107/04.
Traders' Sentiment
After a notable alteration in the perception of USD/CAD by the investors recently, traders' sentiment is largely unchanged with respect to the pair. The ratio between long and short positions is 66% to 34%, accordingly. The similar signal is provided by the orders, 61% of which are to acquire the U.S. Dollar.
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