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- RBC (based on MarketWatch)
Pair's Outlook
A weekly pivot point at 1.0182 turned out to be weak, being unable to stop U.S. Dollar's appreciation. Nonetheless, there is a number of levels that could offer more resistance to further pair's advancement. The first one the price should encounter is at 1.0228/15, although a more reliable near-term ceiling stands 50 pips higher, at 1.0267/63
Traders' Sentiment
USD/CAD's rebound appears to have increased traders' optimism regarding the pair, as the portion of longs has grown further, up to 71%, although proliferation of bullish sentiments is usually observed when the currency drops in value. Concerning the pending orders, most (54%) of them are placed to sell USD against CAD.
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