The 200– hour simple moving average provided resistance for the USD/CAD currency pair during Friday’s trading session.
All things being equal, the US Dollar will most likely edge lower against the Canadian Dollar during the following trading session. The potential target for bearish traders would be at the 1.3120 level.
However, the monthly support level at 1.3146 could provide support for the currency exchange rate within this session.
Meanwhile, technical indicators demonstrate that bears could control the market today.
