Bearish sentiment dominated the USD/CAD currency pair on Friday. As a result, the US Dollar fell by 111 pips or 0.88% against the Canadian Dollar during Friday’s trading session.
Everything being equal, the currency exchange rate could continue to trend lower during the following trading session. The potential target for sellers will be near the 1.2400 level.
However, the 200– hour simple moving average at 1.2429 could a barrier for bearish traders within this session.
