The US Dollar has declined by 80 points or 0.61% against the Canadian Dollar since yesterday’s trading session. The currency pair breached the weekly support line at 1.3115 on Friday morning.
As for the near future, the USD/CAD exchange rate will most likely continue to trend bearish. The potential target for bearish traders would be near the weekly S2 at 1.3057.
On the other hand, the currency exchange rate could make a pullback towards the 50– hour simple moving average at 1.3146 within this session.
