The price movement of the USD/CAD currency pair was guided by the 50-hour simple moving average on Tuesday. The US Dollar traded sideways against the Canadian Dollar yesterday.
As for the near future, it is likely that the US Dollar maintains the one-week ascending channel. The short-term target for bullish traders will be at the weekly R1 at 1.3277 today.
Although, the currency exchange rate might reverse from the current price level and aim at the 100-hour SMA at 1.3197 during the following trading session.
