USD/CAD moving within range
|Bearish momentum continues to direct the US Dollar downward against the Canadian Dollar. By the middle of Wednesday's trading session, the currency pair has lost 92 base points or 0.70%.
The USD/CAD exchange rate introduced no significant changes to its overall price range today, as the pair continued to trade between the monthly PP at 1.3219 and the weekly pivot point at 1.3128 for the last three consecutive trading session.
Given that the currency exchange rate has been moving within range for the previous sessions, it is unlikely that the price would surpass that trading range with the following session.
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