The US Dollar declined by 131 pips or 0.99% against the Canadian Dollar on Tuesday. The currency pair breached the lower boundary of an ascending channel pattern during yesterday’s trading session.
The exchange rate rebounded from Tuesday’s low level at 1.3102 during the Asian session on Wednesday. Most likely, bullish traders could continue to drive the price higher today.
However, the US presidential election results might pressure the USD/CAD currency exchange rate within this session.
