- IG Securities (based on CNBC)
Indeed, the Greenback slid in value against its Canadian counterpart, confirming support at 1.2405, represented by the weekly S1. Nevertheless, this support level stopped the pair from additional losses, as the Buck ended the trading day at 1.2432. Despite a plethora of high-impact US data tomorrow, USD/CAD is likely to remain between the weekly PP and R1, as the technical indicators are neutral.
There are even more bulls than bears among SWFX traders compared to yesterday, namely 74% of the market. At the same time, the number of buy orders increased as well. They take 77% of all pending orders.