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    USD/CAD lunges at 1.3940

    © Dukascopy Bank SA
    "It's still very much a fluid, raw risk, but it's very interesting to note the [U.S.-Canada] rate spreads growing in significance in terms of being a driver for the currency."
    - Toronto-Dominion Bank (based on Reuters)

    Pair's Outlook
    The initial reaction after USD/CAD touched the trend-line was bullish, but today the Greenback remains under heavy selling pressure, as it failed to recover past the weekly pivot point. Nevertheless, the probability of a rally from 1.3940 remains high. Meanwhile, if the rate does fall under the trend-line, additional demand area is supposed to be near 1.3840 dollars, where the 55-day SMA merges with the weekly S1 level.

    Traders' Sentiment
    The percentage of long positions in the SWFX market increased, but on the whole the sentiment is neutral—only 53% of open positions are long. The distribution between the buy and sell orders is similar—51% to buy and 49% to sell the US Dollar.

    © Dukascopy Bank SA

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