Wed, Apr 14, 2021 @ 07:58 GMT
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USD/CAD Bears Could Prevail

The US Dollar has declined by 82 pips or 0.65% against the Canadian Dollar since yesterday’s trading session. The currency pair was pressured lower by the 50– hour simple moving average.

Technical indicators suggest selling signals on all time-frame charts. Most likely, the USD/CAD exchange rate could continue to edge lower during the following trading session.

However, the weekly S1 at 1.2554 could provide support for the currency exchange rate within this session.

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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.

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