© Dukascopy Bank SA
– based on Bloomberg
Pair's Outlook
The US Dollar ended Thursday's trading session below the 1.30 mark against the Canadian Dollar, as the currency exchange rate ended day's trading session at 1.2995. In the first half of Friday's trading session the pair moved even lower, until it found support in the 23.60% Fibonacci retracement and the 55-day SMA at 1.2988. However, the exchange rate had moved below the support level, as it was trading at 1.2980 by 11:00 GMT. Meanwhile, technical indicators are giving mixed signals in all timeframes, unable to provide a clear sense of a possible direction.
Traders' Sentiment
Traders have a bullish stance on the pair, as 73% of positions are long. In the meantime, pending commands were 59% bearish mid-Friday.
© Dukascopy Bank SA