Dukascopy Bank Team
Dukascopy Bank SA
USD/CAD
The US Dollar declined by 37 basis points or 0.28% against the Canadian Dollar on Wednesday. The currency pair tested the lower boundary of a descending channel pattern at 1.2938 during yesterday's trading session.
Technical indicators suggest that the exchange rate could continue to edge lower during the following trading session. A breakout through the lower boundary of a descending channel pattern could occur.
However, the currency exchange rate could bounce off from the lower line of the descending channel pattern and target the 1.3038 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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