The US Dollar has declined by 114 pips or 0.94% against the Canadian Dollar since Monday’s trading session. The currency pair breached the support level at 1.2068 on Monday.
All things being equal, the USD/CAD exchange rate is likely to continue to edge lower during the following trading session. Bearish traders might target the 1.2000 level today.
However, the weekly support level at 1.2030 could provide support for the currency exchange rate within this session.
