The US Dollar fell by 48 pips or 0.37% against the Canadian Dollar on Monday. The USD/CAD currency pair dropped below a one-week low during the Asian session on Tuesday.
As for the near future, bearish traders could continue to pressure the exchange rate lower. The potential target for bears would be near the lower boundary of a descending channel pattern at 1.2675.
However, the weekly S1 at 1.2713 could provide support for the currency exchange rate within Tuesday’s trading session.
