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    USD/CAD takes another crack at 2009 high

    © Dukascopy Bank SA
    "At this point, an incrementally more hawkish Fed will not surprise markets but if USD strength is a legitimate concern for the FOMC then the statement on Wednesday could stop short of signaling a September hike."
    - TD Securities (based on FXStreet)


    Pair's Outlook 
    On Friday, the US Dollar barely managed to negate last Thursday's losses, in spite of strong volatility to the upside. The 2009 high remains unclaimed, but the USD/CAD is expected to make another attempt today. However, the Greenback remains subject to weakness, as it struggled to breach the six-year high during all of the previous week. As a result, the given pair might retreat towards the 1.30 major level, while a surge to 1.3086, namely the monthly R3, is anticipated.  

    Traders' Sentiment 
    Market sentiment improved, as 41% of traders are long the Buck today, compared to 31% previously. Meanwhile, the portion of buy commands added 19 percentage points, up to 62%.
    © Dukascopy Bank SA

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