USD/CAD analysis: Decline likely to continue
|USD/CAD
The US Dollar declined by 41 basis points or 0.31% against the Canadian Dollar on Monday. The currency pair breached the 100– hour simple moving average during yesterday's trading session.
As for the near future, the USD/CAD exchange rate could continue to edge lower. Bearish traders could target the 200– hour simple moving average at 1.3303 during the following trading session.
However, the 100– hour SMA at 1.3371 could still provide support for the currency exchange rate today.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.