Downside risks pressured the US Dollar against the Canadian Dollar on Thursday. As a result, the exchange rate fell by 93 pips or 0.73% during Thursday’s trading session.
All things being equal, the currency pair is likely to continue to edge lower within this session. The potential target for the USD/CAD pair will be near the weekly S2 at 1.2492.
Although, the currency exchange rate might make a brief pullback towards a resistance level at 1.2571 in the shorter term.
