The USD/CAD currency pair is experiencing slight losses, currently trading around the 1.3700 level during European trading hours on Friday. This movement comes as the exchange rate hovers just below the nine-day exponential moving average (EMA), indicating potential resistance in the short term.
Despite these modest declines, technical analysis hints at a possible upside breakout from a bullish descending wedge pattern, which could signal a shift in sentiment for traders. As the market watches these developments closely, a decisive movement above the current resistance could pave the way for further gains in the USD against the CAD.
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Data Source: FX Killer Analysis Team Updated: 2026-01-02 08:29
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.