On Thursday, the US Dollar declined by 51 pips or 0.40% against the Canadian Dollar. The currency pair tested the support level at 1.2532 during Thursday’s trading session.
Everything being equal, the exchange rate could continue to edge lower in a descending channel pattern during the following trading session. The potential target for sellers will be near the 1.2498 level.
However, the USD/CAD currency exchange rate could encounter support at 1.2532 within this session.
