© Dukascopy Bank SA
- Toronto-Dominion Bank (based on Bloomberg)
Pair's Outlook
After approaching the weekly PP and July low at 136.37/39 the pair plummeted to set a new 2014 low at 135.04. For now the decline was stopped by the significant major level at 135, which has not been approached since November 2013. The technical indicators remain mixed, as today's drop certainly did not give more clarity. However, we expect the pair to trade above the 135 level, as the pair has lost already lots of its value in the recent weeks.
Traders' Sentiment
Slight majority (53%) of the SWFX traders' remain bullish on the pair, even after today's drop in value. Concerning the orders placed 100 pips from the spot, there are now significantly less commands to sell—68% after yesterday's 79%.
© Dukascopy Bank SA