USD/CAD is unchanged

The Canadian Dollar is traded at the same level as yesterday, as the pair is strongly correlated to the news on the U.S. economy. During the New York trading session we might expect more action, as consumer confidence and manufacturing data is anticipated to be better. The loonie is bounded by the weekly pivot point from below at 1.0309 and the monthly R2 at 1.0378 from above. The pair definitely lost some power of the recent bullish impulse, as it made a double top outside the Bollinger band.

In SWFX market there are 7 bulls out of 10 traders, indicating significant sentiments to see a new high. Pending orders segment is bullish with 64% of buy orders.