The US Dollar has depreciated by 70 basis points against the Canadian Dollar since Friday’s trading session. The currency pair breached the monthly S1 at 1.3149 during the morning hours of today’s session.
By and large, the USD/CAD exchange rate will most likely continue to trade south during the following trading session. The potential target for bearish traders will be at the 1.3100 zones.
However, a support level, formed by the weekly S1 at 1.3122 could provide support for the currency exchange rate today.
