On Friday, the US Dollar declined by 56 pips or 0.45% against the Canadian Dollar. The USD/CAD currency pair tested the 1.2500 level support during Friday’s trading session.
Given that the 50– and 200– hour SMAs are above the price level, bearish traders are likely to continue to drive the exchange rate lower during the following trading session.
However, sellers could still encounter support near the 1.2500 level within Monday’s trading session
