The US Dollar continued its decline against the Canadian Dollar on Monday. The USD/CAD exchange rate breached the lower boundary of a dominate ascending channel pattern during Monday’s trading session.
Everything being equal, it is likely that the Greenback will continue its decline in a descending channel pattern during the following trading session.
The potential target for the bearish traders will be near December 3 swing low of 1.3150.
Furthermore, technical indicators demonstrate that the currency exchange rate will trade with low volatility today.
