Sun, Feb 28, 2021 @ 16:33 GMT
Home Contributors Technical Analysis USD/CAD Could Make Brief Retracement

USD/CAD Could Make Brief Retracement

Downside risks dominated the US Dollar against the Canadian Dollar on Friday. As a result, the USD/CAD exchange rate declined by 117 pips or 0.92% during Friday’s trading session.

Technical indicators suggest selling signals on all time-frame charts. Most likely, bearish traders are likely to pressure the currency pair lower within the following trading session.

However, the currency exchange rate might make a brief retracement towards the 200– hour simple moving average at 1.2679 today.

Dukascopy Swiss FX Group
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

Featured Analysis

Learn Forex Trading