On Monday, the US Dollar fell by 32 pips or 0.26% against the Canadian Dollar. However, the USD/CAD currency pair rebounded during the Asian session on Tuesday.
Everything being equal, the exchange rate could continue to edge higher during the following trading session. The potential target for bullish traders would be near the 1.2640 area.
Although, the 200– hour simple moving average at 1.2595 might provide resistance for the currency exchange rate within this session.
