The US Dollar has declined by 93 pips or 0.73% against the Canadian Dollar since yesterday’s trading session. The currency pair was pressured lower by the 50, 100– and 200-hour SMA on Thursday.
Most likely, the USD/CAD exchange rate could continue to trend lower during the following trading session. The potential target for bearish traders will be near the 1.2540 level.
However, the weekly support level at 1.2572 could provide support for the currency exchange rate today.
