The US Dollar declined by 112 basis points or 0.79% against the Canadian Dollar on Friday. The currency pair tested a support cluster at the 1.4002 during Friday’s trading session.
Given that the exchange rate has jumped off from the support cluster formed by the 100– and 200– hour SMAs and the combination of the weekly and monthly PPs at 1.4002, a surge towards the 1.4150 could be expected within this session.
However, technical indicators suggest that the currency exchange rate might trade sideways during the following trading session.
