USD/CAD Analysis: Awaits Fundamental Releases

Technical analysis of Forex market

The Greenback has continued its decline against the Canadian Dollar. The currency pair tested the lower boundary of an ascending trendline at 1.3054 during the Asian session on Friday.

Everything being equal, it is likely that the downside momentum will continue within this session. The potential target for the USD/CAD exchange rate will be near the monthly S1 at 1.2998.

Although, it is important to note that the US fundamental events scheduled at 12:30 GMT could play an important role in the price movement direction today.

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