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- Robert Hall, Stanford University (based on Bloomberg)
Pair's Outlook
USD/CAD did not fully erode a key for the short and medium-term outlook support at 1.0211/1.0188, but also did not confirm willingness to rebound from it, leaving us in uncertainty. Therefore we should wait for a little longer to be able to give a more precise prognosis. However, even if the pair falls beneath, there is a number of supports that should be more than enough to prevent decline's extension beyond 1.0037.
Traders' Sentiment
The difference between the amounts of bulls (70%) and bears (30%) has narrowed down by ten percentage points, but it still does not alter the fact that an overwhelming majority stays short on USD/CAD. Meanwhile, the ratio of buy to sell orders remains the same as reported previosly—57% to 43%.
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