Dukascopy Bank Team
Dukascopy Bank SA
USD/CAD
Since Monday's trading session, the US Dollar has declined by 244 basis points or 1.71% against the Canadian Dollar. The currency pair breached the 50-, 100– and 200– hour SMAs on Monday.
Currently, the exchange rate is testing a support cluster formed by the weekly S1 and the monthly PP at 1.4019.
If the support cluster holds, the USD/CAD pair could make a pullback towards the 1.4183 area today.
However, if the currency exchange rate breaks the support level, bears might drive the price lower during the following trading 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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