The bearish trend remained intact, as the Greenback weakened against its Canadian counterpart yesterday, breaching the immediate support. The down-trend, which is the closest resistance, is now reinforced by the weekly PP and the 55-day SMA. Meanwhile, a strong cluster lies around the 1.36 major level, which should limit the dips; however, in case the sell-off is too sharp, the up-trend and the weekly S2 circa 1.3425 are to prevent the pair from edging lower. Technical studies also suggest a bearish outcome today.
Market sentiment remains in a perfect equilibrium for a second day in a row, whereas all pending orders are now equally divided between the buy and the sell ones.