Downside risks prevailed in the market on Friday, thus sending the US Dollar to plunged by 200 base points against the Canadian Dollar.
Everything being equal, the decline of the currency pair could continue within this session until it reaches a support cluster formed by the weekly and the monthly pivot points at 1.2791.
If this support cluster holds, the currency exchange rate could make a brief retracement towards the 200-hour simple moving average at 1.2952 during the following trading session.
