The US Dollar declined by 90 pips or 0.74% against the Canadian Dollar on Friday. The currency pair breached the 50– hour simple moving average during Friday’s trading session.
As for the near future, the exchange rate could continue to trend bearish. Sellers are likely to target the weekly support level at 1.2030 during the following trading session.
However, a support level at 1.2067 could provide support for the USD/CAD currency exchange rate within this session.
