© Dukascopy Bank SA
– based on Daily FX
Pair's Outlook
The US Dollar gained strength against the Canadian Dollar on Tuesday, as the currency exchange rate moved from 1.2945 at the start of the day's trading session to 1.3022 at closing of Tuesday's trading. In addition, in the first half of Wednesday the pair continues to surge, as the rate reached 1.3056 by 11:00 GMT. The Greenback faces no resistances against the Loonie up to the level of 1.3123, where the weekly R1 is located at. In the meantime, daily aggregate technical indicators support a surge for the pair today.
Traders' Sentiment
SWFX traders are long on the pair, as 73% of open positions are bullish. In the meantime, short pending orders have decreased compared to yesterday, as pending commands in the 100-pip range are 54% short on Wednesday.
© Dukascopy Bank SA