During the last 24hrs, the US Dollar has depreciated about 72 base points against the Canadian Dollar. The currency pair breached both the 50– and 100-hour simple moving averages at the end of yesterday’s trading session.
Everything being equal, it is likely that the USD/CAD exchange rate will continue its decline within this session. The potential downside target will be near a swing low at 1.3120.
However, it is important to note that the US macroeconomic data releases scheduled at 12:30 GMT could influence the currency exchange rate movement during the following trading session.
Written by Admin
Chinese tech company Baidu announced Monday it can sell some robotaxi rides without any human ...
Federal Reserve Governor Michelle Bowman said Saturday she supports the central bank's recent big rate ...
You'd be hard-pressed now to find a recession in the rearview mirror. What's down the ...