The US Dollar has declined by 58 basis points or 0.43% against the Canadian Dollar since Friday’s trading session. The currency pair was pressured lower by the 50– hour simple moving average.
Technical indicators flash selling signals on the 4H and daily time-frame charts. Therefore, bearish traders could continue to pressure the USD/CAD exchange rate lower within this session.
On the other hand, the currency exchange rate could reverse from the current price level at 1.3523 and aim for the 50– hour SMA at 1.3568 today.
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