USD/CAD Rate to Eye March Low on Break of April Opening Range 2021-04-12 14:30:00 David Song, Strategist Canadian Dollar Talking Points USD/CAD attempts to retrace the decline following the update to Canada’s Employment report in an effort to retain the opening range for April, but lack of momentum to push back above the 50-Day SMA (1.2611) may lead to a further decline in the exchange rate like the price action seen earlier this year. Advertisement USD/CAD Rate to Eye March Low on Break of April Opening Range USD/CAD appears to be on track to test the monthly low (1.2502) as it extends the series of lower highs and lows from the previous week, and the exchange rate may continue to give back the rebound from the March low (1.2365) if it fails to retain the opening range for April.