USD/CAD Tests 1.2530 Level

On Thursday, the US Dollar declined by 51 pips or 0.40% against the Canadian Dollar. The currency pair tested the support level at 1.2532 during Thursday’s trading session.

Everything being equal, the exchange rate could continue to edge lower in a descending channel pattern during the following trading session. The potential target for sellers will be near the 1.2498 level.

However, the USD/CAD currency exchange rate could encounter support at 1.2532 within this session.

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