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.