The US Dollar declined by 57 points or 0.42% against the Canadian Dollar on Friday. The decline was stopped by the 100– hour simple moving average during Friday’s trading session.
Technical indicators flash selling signals on the daily time-frame chart. Most likely, bearish traders could pressure the exchange rate lower towards the weekly support level at 1.3340 within this session.
Although, the 100– hour SMA at 1.3387 could still provide support for the USD/CAD currency exchange rate during the following trading session.