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– Henry Liu, Henry Liu Forex (based on investing.com)
Pair's Outlook
The US Dollar traded above the 1.3050 mark by mid-day on Wednesday against the Canadian Dollar, as it found support, as expected, near the 1.30 level. However, stop losses might have been triggered, as during the rate's Tuesday's fluctuations the pair fell and touched the 1.2970 mark. The future outlook for the pair remains as forecasted before. The Greenback is set to appreciate against the Loonie, and the rate might reach the 1.3130 mark by the end of the day, as at that point the 200-day SMA was located at during Wednesday's trading session.
Traders' Sentiment
Traders remain bullish on the pair, as 61% of open positions are long on Wednesday. In the meantime, 61% of trader set up orders are to buy the Buck.
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