Downside risks have been dominating the US Dollar lower against the Canadian Dollar since Tuesday’s trading session. The currency pair has plummeted by 102 basis points or 0.76% since yesterday.
Technical indicators suggest selling signals on both the smaller and the larger time-frame charts. Therefore, bearish traders could continue to pressure the exchange rate lower within this session.
However, the USD/CAD currency exchange rate is expected to make a brief retracement towards the resistance level at 1.3504 during the following trading session.
