Canadian Dollar Price Forecast: USD/CAD headed for more declines as markets settle into risk-on flows
USD/CAD bids fell into the 50-day Exponential Moving Average (EMA) at 1.3730 on Wednesday, and the pair is down 1.6% from last week’s late peak that fell just shy of 1.3950. Market sentiment is expected to keep pushing market orders through the bullish side.
As long as bidders continue to ease back into the fold, the Canadian Dollar should continue to press higher against the Greenback and drag USD/CAD down towards the 200-day Exponential Moving Average (EMA) at 1.3620.
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