The USD/CAD currency pair continues to decline, marking its third consecutive day of losses as it trades around 1.3680 in early European hours on Wednesday. This movement keeps the exchange rate near five-month lows, indicating ongoing pressure on the Canadian dollar amid fluctuating market sentiment.
Despite the recent downtrend, the daily chart hints at a potential bullish reversal, with falling, converging trendlines forming a descending wedge pattern. Traders will be closely monitoring these technical indicators for any signs of an upward breakout, which could signal a shift in momentum for the pair as market dynamics evolve.
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Data Source: FX Killer Analysis Team Updated: 2025-12-24 07:44
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.