The US Dollar edged lower against its Canadian peers on Tuesday. The exchange rate lost about 79 base points of its values during Tuesday’s trading session. In the meantime, the overall market sentiment remained bearish during the first half of today’s session.
Technical indicators demonstrate that the decline of the currency pair will continue within this session. The potential downside target will be at a swing lower of 1.3120 within this session.
However, it is expected that the currency exchange rate makes a retracement towards the 200-hour simple moving average at 1.3209 today.
