- Barclays (based on CNBC)
USD/CAD overperformed at the end of the previous week, as the Buck pierced through the nearest resistance levels. The US Dollar obliterated Thursday's decline, as it rose by 96 pips to settle at 1.2780. Today the technical indicators are giving neutral signals, while the US figures are expected to improve, thus further rally against the Loonie is the likely outcome. If the forecasts prove to be correct or worse than the actualy readings, the closest ostacle will be at 1.2878.
The portion of bulls increased once more, as 75% of all positions are long (previously 74%), whereas the percentage of buy orders dropped to 54%.