USD/CAD

The US Dollar declined by 43 basis points against the Canadian Dollar on Wednesday. The decline was stopped by the weekly pivot point at 1.3036 during yesterday's trading session.

A breakout occurred through the lower boundary of an ascending channel pattern at 1.3040 during the morning hours of Thursday's trading session.

Given that a breakout had occurred, a decline towards the psychological support level at 1.3000 could be expected.

However, a support level formed by the 200– hour simple moving average at 1.3033 could provide support for the currency exchange rate today.

USDCAD

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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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