Bearish pressures have dominated the US Dollar against the Canadian Dollar since the beginning of December. As a result, the currency pair reached May 2017 swing high of 1.3663.
Today’s session began with a strong bearish movement. By the middle of the European trading session, the exchange rate has breached the bottom border of an uptrend line at 1.3578.
In case bears manage to prevail during the following trading session, the currency exchange rate may aim at a support cluster formed by the combination of the weekly and the monthly PPs at 1.3489.
