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- Stanley Fischer, Federal Reserve vice chairman (based on Business Recorder)
Pair's Outlook
Upon reaching the immediate resistance near the major level of 1.33, the USD/CAD bounced back and, as a result, stabilised at the 1.32 mark. The US Dollar remains under pressure and is expected to inch higher, as bullish technical studies. The nearest resistance is located at 1.3246, namely the weekly PP, just a few pips above the open price, while a cluster, represented by the 20-day SMA and weekly S1, provides rather strong support. However, a tougher resistance rests near the 1.33 major level, but is unlikely to be reached due to lack of momentum.
Traders' Sentiment
Market sentiment slightly improved, with 35% of all positions being long. The share of buy orders, however, declined from 53 to 41%.
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