USD/CAD
The US Dollar appreciated about 77 base points against the Canadian Dollar on Friday. After the currency pair tested the weekly R1 at 1.3108, the pair made a retracement down.
The 50-, 100– and 200-hour SMAs was pressuring the exchange rate lower during the first half of Monday's trading session.
The USD/CAD pair could aim for a support level formed by the weekly S1 at 1.3014 within this session.
If the support line holds, a potential upside reversal could occur today.
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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