USD/CAD
The US Dollar traded sideways against the Canadian Dollar on Thursday. The USD/CAD currency pair made about 35 pips or 0.28% move during Thursday's trading session.
As for the near future, the exchange rate is likely to maintain the narrow descending channel pattern. The possible target for the pair will be near the weekly support line at 1.2200.
However, the currency exchange rate could reverse from the current price level at 1.2274 and target the weekly resistance level at 1.2405.
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
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