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- Royal Bank of Canada (based on Reuters)
Pair's Outlook
The U.S. Dollar still lacks bullish momentum; therefore, the pair is stuck slightly below the weekly and monthly PPs at 1.0748/60. The pair's bulls most likely are waiting for some bullish indications. Certainly one of the signs that are indicating on pair's appreciation is the technical indicators that are largely bullish. Now, also very important will be pair's reaction around the downtrend line (around 10 pips above the market price) that should be reached soon.
Traders' Sentiment
More than 70% of the SWFX market participants believe that the U.S. Dollar is going to outperform the Canadian counterpart. And this number could go slightly up, as 56% of orders are placed to purchase the greenback.
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