The USD/CAD currency pair is currently approaching a critical support zone, with the exchange rate pressing against the 200-day moving average and the lower boundary of its multi-month trading channel between 1.3920 and 1.3880. This technical threshold, as highlighted by Société Générale's FX analysts, is pivotal for traders watching for potential breakouts or reversals.
Market sentiment around the U.S. dollar and Canadian dollar is likely influencing this movement, as traders assess economic indicators and geopolitical developments. A sustained breach below this support level could signal further weakness for the USD/CAD pair, while a bounce could reinforce bullish momentum, drawing in additional buying interest in the process.
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Data Source: FX Killer Analysis Team Updated: 2025-12-05 10:21
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.