"The commodity-related Canadian dollar's gains were capped by sharply lower Crude Oil WTI Futures amid fresh supply glut concerns."
— Reuters
Pair's outlook
By the middle of Thursday's trading session the US Dollar remained unchanged against the Loonie exactly at the 1.35 mark. However, the currency exchange rate fluctuated in a much wider range. It could be observed that the 55-day SMA, which was located below the pair initially, could not provide enough support to keep the pair from declining below the 1.3480 amidst the day's trading. Although, the hypothesis of a surge remains in force, and the next target is the weekly R1 at the 1.3534 level.
Traders' sentiment
SWFX traders remain bearish, as 59% of open positions are short, compared to 58% previously. Meanwhile, only 51% of trader set up orders are to sell the Buck.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | -18% | -16% | -16% | |
| Orders | -2% | -8% | -8% | |
| Indicator | 1D | 1W | 1MN | |
| MACD (12; 26; 9) | Sell | Buy | Buy | |
| RSI (14) | Neutral | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Sell | Neutral | Sell | |
| ADX (14) | Neutral | Neutral | Neutral | |
| CCI (14) | Neutral | Neutral | Sell | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Sell | Buy | Buy | |
| SAR (0.02; 0.2) | Buy | Buy | Buy | |
| Aggregate | → | ↗ | ↗ | |