Today the index of investing for our pair came out, which amounted to 47.9%. It follows that at the moment there are fewer bullish positions than bearish ones. Traders are inclined to sell this instrument.
Today we do not expect the release of any macroeconomic data from Canada and Australia, so we will consider our chart in the light of the current trends.
At the moment we have an upward movement, but our pair has slowed down and is near the level of June 2017.
Against the backdrop of rising energy prices, the Canadian dollar began to win back its positions relative to the basket of major pairs.
At the moment we expect a corrective movement for this pair.
If the price breaks the level of 1.0070, we can expect the quotes to advance to the levels of 1.00 and 0.9940, near which our Take Profit can be placed. In the opposite case, we expect the price to advance to the previously reached highs.
