- Lloyds Bank (based on FXStreet)
The USD/CAD currency pair was unable to edge below the immediate support cluster and ended the day with a mild rally yesterday. Although the Buck should weaken against its Canadian counterpart today, the pair struggling to pierce the 1.3885 support. Nonetheless, technical studies in the daily timeframe suggest the Greenback's bearish momentum is to prevail, while the resistance line is to contribute to the possibility of the sell-off. However, in case bears fail to push the pair lower, we might see the 1.40 major level retaken again.
Traders' sentiment is equally divided between bulls and bears, while the number of purchase orders added 30% points, rising up to 70%.