On Thursday, the US Dollar fell by 87 pips or 0.70% against the Canadian Dollar. The currency pair breached the lower line of a descending channel pattern at 1.2352 within this session.
Technical indicators suggest selling signals on the 4H and daily time-frame charts. Most likely, the exchange rate could continue to trend lower during the following trading session.
However, the currency exchange rate may find support at 1.2350 within Friday’s trading session.
