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– Jamie Saettele, CMT (based on Daily FX)
Pair's Outlook
The US Dollar surged by mid-Wednesday against the Canadian Dollar, as the currency exchange rate began the day's trading session above a cluster of levels of significance. Previously, on Tuesday the cluster provided resistance to the currency exchange rate, and during the session it seemed that the currency pair is set to fall to at least the 1.3235 level, however, that did not occur. It is most likely now that the rate will surge to 1.3463. Moreover, daily aggregate technical indicators support a surge of the pair during today's trading.
Traders' Sentiment
SWFX traders have not changed their opinion, as 62% of open positions remain short. In the meantime, 55% of trader set up orders are to buy.
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