The Greenback depreciated by 91 base points against the Canadian Dollar on Friday. The exchange rate breached the 50-hour simple moving average at 1.3263 during Friday's trading session.
As for the near future, it is likely that the currency pair will continue to fall in the short-term. The possible downside target will be near the lower boundary of a junior ascending channel pattern at 1.3186.
However, it is important to note that a support cluster set by the 100-hour simple moving average and the weekly pivot point at 1.3232 could hinder such movement to 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.