Downside risks dominated the US Dollar against the Canadian Dollar on Friday. As a result, a breakout occurred through the lower boundary of an ascending channel pattern.
Given that a breakout had occurred, the currency pair could continue to edge lower during the following trading session. The potential target for bearish traders would be near the 1.2700 level.
However, a support line at 12740 could provide a barrier for the currency exchange rate within this session.
