Canadian Dollar price forecast: Falling Greenback drags USD/CAD down from 1.3750
USD/CAD dove toward 1.3700 on Tuesday, falling back below the 50-day Exponential Moving Average (EMA) at 1.3730. The pair has fallen further back from the 1.3750 technical level as pressures mount on the Greenback, sending the CAD into three-week highs against the US Dollar.
Long-term technicals still favor long positions as the pair continues to trade north of the 200-day EMA at 1.3630, but topside momentum remains limited after USD/CAD bidders failed to capture the 1.3950 peak early last week.
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