During Monday’s trading session, the Greenback broke a junior ascending channel pattern. The currency pair edged lower by about 0.58% in value. In regards to the near-future, the US Dollar could regain some of its lost points against the Canadian Dollar.
However, the currency exchange rate needs to surpass a resistance cluster formed by the combination of the weekly and monthly pivot points at 1.3322.
Although, if the resistance cluster as mentioned above holds, the USD/CAD will continue its southern movement today. The potential downside targets for bears will be at the weekly S2 at 1.3257.
