The USD/CAD currency pair has continued its downward momentum, slipping further from the 1.3800 level. On Tuesday, the exchange rate approached significant support around 1.3730-1.3725, prompting a second consecutive day of selling pressure. This sustained rejection from the previous high indicates a bearish sentiment in the market.
Traders are now closely watching upcoming macroeconomic data from both the US and Canada, which could influence the pair's trajectory. As the USD faces headwinds amid mixed economic signals, attention will also be on any developments that might strengthen the CAD. The market remains cautious, with the potential for increased volatility as critical data releases approach.
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Data Source: FX Killer Analysis Team Updated: 2025-12-23 08:29
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.