© Dukascopy Bank SA
- Toronto-Dominion Bank (based on Bloomberg)
Pair's Outlook
USD/CAD carries on stepping higher due to the absence of any strong resistances. However, there is still a potential danger to the up-trend, represented by 1.0106/1.0093 and preceded by 1.0071, a considerably weaker resistance level. According to the technical indicators, the rally is expected to persist in both the short and long run, while bullish impetus should gradually taper off in a monthly perspective.
Traders' Sentiment
A majority (65%) of market participants continue on holding long positions, while the currency pair is advancing, proving the veracity of their previous estimations. The ratio between buy and sell orders reinforces the bullish bias, being 72% to 28% respectively.
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