- RBC Dominion Securities (based on WBP Online)
There were no surpises in the pair's performance on Thursday. The exchange rate negated some of the Wednesday's losses and ended the trading session at 1.2716. While the technical indicators on the daily and weekly time-frames are distinctly giving bullish signals, resistance created by the weekly PP and monthly R1 is still intact. However, if it is breached, there will be a good chance of a surge up to 1.2840.
Although not as strong as yesterday, but the market sentiment remains bullish: 72% of traders are long the Greenback. Meanwhile, the portion of commands to purchase the US Dollar went up; 57% of orders are now set to buy.