The USD/CAD currency pair is experiencing a slight decline, trading around 1.3770 during the European session on Thursday. The market sentiment suggests a bearish trend as the pair hovers near the critical support level of 1.3720. Traders are closely monitoring this area, as a break below could signal further downside momentum.
Factors influencing this movement include fluctuations in oil prices, which significantly impact the Canadian dollar, and varied economic data releases from both the U.S. and Canada. As the exchange rate remains under pressure, investors are weighing the implications for future trading strategies, particularly in light of potential interest rate adjustments from the Federal Reserve and Bank of Canada.
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Data Source: FX Killer Analysis Team Updated: 2025-12-18 09:26
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.