© Dukascopy Bank SA
– based on Daily FX
Pair's Outlook
The US Dollar was volatile during Wednesday's session against the Canadian Dollar. However, the currency exchange rate remained firmly at the same spot, as it started the day's trading session, at 1.3190. At the start of Thursday's trading session, the pair has been falling, as it at one moment even touched the 1.31 mark while reaching below the weekly R1 at 1.3161. Although the currency pair moved back up and traded at 1.3168 by 11:30 GMT. In the meantime, daily aggregate technical indicators forecast a surge for the pair today.
Traders' Sentiment
SWFX sentiment remains 70% bullish on Thursday, as the currency pair remains overbought. In the meantime, pending orders in the 100-pip range are 55% short.
© Dukascopy Bank SA