The US Dollar declined by 63 pips or 0.49% against the Canadian Dollar on Friday. The USD/CAD currency pair breached the 50– hour simple moving average at 1.2700 during Friday’s trading session.
Technical indicators suggest selling signals on the 4H, daily and weekly time-frame charts. The exchange rate will most likely continue to edge lower during the following trading session.
However, the weekly support level at 1.2639 could provide support for the currency exchange rate within this session.
