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"We're on track to get back to balance in 2015, without raising taxes or cutting investments in health care and social service transfers, as promised."
- Canada's Finance Minister (based on Huffington Post)
Pair's Outlook
Pair continues to trade sideways as downtrend resistance (connecting June and July highs) proves to be too much for the pair's bulls at the moment. Advancement above it could lead to a rally till the august high. Failure here should not have substantial initial implications. It should find support with the monthly PP at 1.0400. Failure there could lead to a sell off to 1.0377 and, afterwards, to 1.027.
Traders' Sentiment
Canadian dollar is the second most sold, right behind Swiss franc, major currency across the board. This weighs on the overall market sentiment as bulls account for 74% of all market participants. In addition to this 57% of all pending orders are in their favour as well.
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