- Morgan Stanley (based on Reuters)
On Friday, the Greenback refused to drop below the six-year high mark again. As a result, the US Dollar outperformed its Canadian counterpart, but with the exchange rate failing to reach 1.32 major level. Nevertheless, the area was taken over the weekend, opening the door for further rally. The Bollinger band around 1.3249 acts as the immediate resistance level today and could limit the gains today. However, a stronger cluster rests around the 1.33 psychological level, while technical studies retain their mixed signals.
Bearish traders' sentiment remains unchanged at 73%, whereas 74% of all orders are to acquire the Buck, up from 66%.