The US Dollar has declined by 63 basis points or 0.47% against the Canadian Dollar since Friday’s trading session. The currency pair was pressured lower by the 100– hour simple moving average on Friday.
Most likely, the exchange rate could continue to decline during the following trading session. The potential target for bearish traders would be at the monthly support level at 1.3325.
On the other hand, the currency exchange rate could reverse from the current price level at 1.3382 and target the weekly pivot point at 1.3455 today.
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