Sun, Oct 17, 2021 @ 03:03 GMT
HomeContributorsTechnical AnalysisUSD/CAD Decline Likely To Continue

USD/CAD Decline Likely To Continue

On Friday, the US Dollar declined by 86 pips or 0.68% against the Canadian Dollar. The 200– hour simple moving average pressured the currency pair lower during Friday’s trading session.

Technical indicators suggest selling signals on the 4H time-frame chart. Most likely, sellers might continue to pressure the exchange rate lower during the following trading session.

However, the lower boundary of a descending channel pattern at 1.2600 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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