USD/CAD
The US Dollar has declined by 79 basis points or 0.57% against the Canadian Dollar since Monday's trading session. A breakout occurred through the lower boundary of a descending channel pattern on Tuesday morning.
Given that a breakout had occurred, the USD/CAD exchange rate would continue to edge lower during the following trading session. The possible target for bearish traders could be at the 1.3872 region.
A potential upside reversal could occur from the weekly support level at 1.3872 within this session.
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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