© Dukascopy Bank SA
- Royal Bank of Canada (based on Reuters)
Pair's Outlook
USD/CAD, also known as the loonie, is traded flat in recent two weeks, as the pair sharply exceeded the Bollinger band that time and stuck at 1.0260. Today the pair accomplished an upside spike towards the Bollinger band intersecting the monthly R1 level at 1.0294, but it was not sustainable and the price slipped back to the flat level. Considering a downside movement, the loonie should meet the first support rather quickly, as it is located at 1.0219 and formed by the monthly PP and the 55-day SMA.
Traders' Sentiment
Bulls remain in the power in SWFX marketplace, but the size of their share is cut by 6% to 67%. Waiting orders segment demonstrates a bullish exposure, as 65% of orders are buy and 35% are sell.
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