- Tyler Yell, CMT (based on Daily FX)
The USD/CAD pair is moving lower, as the US Dollar weakens, and the Canadian Dollar gains strength. The pair was volatile during Wednesday's session, as at one moment it even passed the 1.30 mark, however, the currency exchange rate ended the session at the level of 1.2963. Amidst the middle of the Thursday session, the pair is moving lower, and, at the moment, the pair is trading at 1.2929 by 10:45 GMT. In the meantime, daily aggregate technical indicators forecast a surge for today.
SWFX traders have shifted their sentiment and become bullish on the pair, as 52% of open positions are long on Thursday, compared to 46% on Wednesday However, pending orders in the 100-pip range are 53% long.