The US Dollar edged lower against the Canadian Dollar on Friday. The currency pair lost about 145 base points of its values during Friday’s trading session. Meanwhile, the overall market sentiment remained bearish on Monday morning.
Technical indicators demonstrate that the decline of the exchange rate will continue within this session. However, it is likely that the pair will make a retracement towards the weekly pivot point at 1.3271 today.
By and large, it is expected that the USD/CAD currency exchange rate maintains the junior descending channel pattern during the following trading session.
