On Friday, the US Dollar declined by 92 pips or 0.72% against the Canadian Dollar. The currency pair breached the 50– and 200– hour simple moving averages during Friday’s trading session.
Technical indicators suggest selling signals on the 4H time-frame chart. Therefore, the USD/CAD exchange rate could continue to edge lower during the following trading session.
However, sellers could encounter support at the 1.2518 level within Monday’s trading session.
