Fri, May 07, 2021 @ 14:16 GMT
Home Contributors Technical Analysis USD/CAD Could Edge Lower

USD/CAD Could Edge Lower

The US Dollar has been trading with low volatility against the Canadian Dollar since yesterday’s trading session. The currency pair depreciated about 41 base points on Thursday.

As for the near future, it is likely that the currency exchange rate edges lower towards a support level at 1.3399. The 50-hour simple moving average could pressure the pair down today.

However, technical indicators demonstrate that the USD/CAD currency pair will continue its bullish momentum within this trading session.

Dukascopy Swiss FX Group
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

Featured Analysis

Learn Forex Trading