© Dukascopy Bank SA
- HSBC Holdings Plc (based on CNBC)
Pair's Outlook
Not without difficulties, but USD/CAD is about to end the second day in red after an unsuccessful hurried attempt to penetrate 1.0309/1.0267, although it was far from reaching the lower edge of the area. This or next week the price may once again approach the support, but it seems to be formidable enough to nullify the bearish momentum if the pair is to gain one.
Traders' Sentiment
While USD/CAD is largely unchanged, the share of long positions added three percentage points, meaning that three out of four traders are bullish on the U.S. Dollar relative to it northern counterpart. Meanwhile, the portion of buy orders decreased to 60% from 66% recorded yesterday.
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