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- CMC Markets (based on WBP Online)
Pair's Outlook
The Greenback appreciated against its Canadian counterpart on Friday, failing to breach the major level of 1.33. Nevertheless, the USD/CAD still ended the week slightly higher, despite struggles to reach the July 2004 high at 1.3380. The strong cluster around 1.3365 keeps providing substantial resistance, limiting the pair's volatility, while the weekly PP shifted to 1.3239, now acting as the immediate support. The Buck is expected to outperform the Loonie today as well, amid the Canadian Dollar remaining weaker from Friday's fundamental data results, but without touching the resistance area.
Traders' Sentiment
Market sentiment remains bearish, now at 55%, compared to 54% previously. The share of buy orders also declined, from 50 to 46%. )
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