© Dukascopy Bank SA
© Dukascopy Bank SA
- Citi (based on CNBC)
Pair's Outlook
On Wednesday, the USD/CAD currency pair gained only ten pips, remaining relatively unchanged. The situation remains no different from yesterday, as the cluster around 1.3150 keeps supporting the pair from below, while the obstacle around 1.3365 is yet to be overcome. However, the Greenback's volatility to the downside was limited by the 1.32 major level and somewhat by the weekly PP yesterday, which is providing substantial support today. As a result, the Buck is likely to post minor gains by day's end, as technical studies suggest.
Traders' Sentiment
Bulls lost some numbers again, as only 44% of all positions are long. The share of purchase orders, however, edged up from 33 to 49%.
© Dukascopy Bank SA
© Dukascopy Bank SA