© Dukascopy Bank SA
– based on Bloomberg
Pair's Outlook
The Loonie is not giving up against the Greenback on Friday so easily, as the currency exchange rate keeps struggling below resistance almost at the 1.32 mark. The US Dollar seemed to have broken through the resistance put up by the weekly R2 at 1.3207 by mid-Thursday. However, after even reaching above to the level of 1.3235, the currency pair fell to end the day's trading session with losses for the Buck at 1.3160. By mid-Friday the rate kept pounding on the resistance, and it is most likely to break it soon.
Traders' Sentiment
SWFX trader sentiment at the moment is 69% bearish. In the meantime, pending commands are 54% to sell the US Dollar.
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