USD/CAD is trading below its moving average, confirming a downtrend. Support is found at 1.3824 and 1.3760, while resistance levels are 1.3885 and 1.3929.
The Canadian dollar is underpinned by stable oil prices and a more favorable fiscal backdrop compared to the U.S. Traders are increasingly cautious about holding dollars as long-term deficit fears and soft demand at bond auctions persist.
