USD/CAD analysis: Consolidates below 1.3800

Dukascopy Bank Team Dukascopy Bank SA

USD/CAD

The US Dollar traded sideways against the Canadian Dollar on Thursday. The USD/CAD currency pair consolidated below the 1.3800 area during Thursday's trading session.

As for the near future, if the exchange rate breaks the 1.3731 area, a decline towards the weekly support level at 1.3625.

On the other hand, if the currency exchange rate breaches the 1.3800 area, bullish traders would target the 100– hour simple moving average at 1.3850 during the following trading session.

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Dukascopy Bank Team

Dukascopy Bank SA

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