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- RBC Capital Markets (based on the Australian)
Pair's Outlook
The USD/CAD currency pair is still on a strong down-trend, as of today it is moving even closer to the 0.91 level, which has not been approached since this year's March. We do not see any significant weapons for the Aussie's bulls to stop this current trend. However, there is a possibility that the current decline might be halted, at least for a moment, around the 0.91 level, as this psychological level has not been touched for six months.
Traders' Sentiment
Share of bulls in the market is increasing, we have witnessed a 3% gain since yesterday as the traders' sentiment reached 59% today. The distribution between the buy and sell orders is more significant—69% and 31% respectively.
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