During Thursday’s trading session, the US Dollar declined by 45 basis points or 0.34% in value against the Canadian Dollar. The currency pair tested 50– hour simple moving average at 1.3127 on Thursday.
Most likely, the USD/CAD exchange rate will continue to edge lower within this session. The possible target for bearish traders would be near the 100– hour simple moving average at 1.3095.
However, technical indicators demonstrate that the currency exchange rate will continue to trade bullish during the following trading session.