© Dukascopy Bank SA
- HSBC Holding Plc. (based on Bloomberg)
Pair's Outlook
USD/CAD demonstrates strong bullish sentiments today, as the pair moves straight to north without any consideration of resistance levels. The loonie overcame the 20-day SMA at 1.0163 and the 55-day SMA at 1.0191 easily. The pair continues to move higher and the closest resistances are the weekly R1 level at 1.0213 and the monthly pivot point with the Bollinger band at 1.0219.
Traders' Sentiment
SWFX market participants reduce their bullish positions while the price is surging. However, the change is only 2% and might be caused by stop-losses, not by fundamental changes in sentiments. Placed orders market delivers sentiments directed for an upside movement, as 68% of orders are ready sell the Canadian Dollar.
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