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    USD/CAD takes another crack at 1.30

    © Dukascopy Bank SA
    "With only June existing home sales on the docket today, we look for investors to remain focused elsewhere for direction. We nevertheless expect existing home sales to rise an above-market 2.1% to 5.46M in June, catching up to the recent strength in pending home sales (which tend to lead existing sales by one month)." 
    - TD Securities (based on WBP Online) 

    Pair's Outlook 
    On Tuesday, the US Dollar behaved almost according to expectations, as it bounced back from the 1.30 major level. However, losses were much more than anticipated, as the USD/CAD closed trade at 1.2941. The Greenback is likely to regain the bullish momentum today, as daily technicals suggest. Nevertheless, immediate resistance still rests rather far, which leaves with the 1.30 psychological level to do the dirty work. Moreover, if the fundamental data surprises to the upside, we could see the 1.30 barrier fallen. 

    Traders' Sentiment 
    Today 35% of traders are long the Buck (previously 33%). The portion of purchase orders returned to its Monday's level of 56%.
    © Dukascopy Bank SA

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