The US Dollar is trading in a triangle-like formation pattern against the Canadian Dollar. The currency pair tested the lower boundary of the triangle pattern during the middle of the European trading session on Wednesday.
The exchange rate is currently trading near the upper boundary of the pattern and could be set for a breakout.
If this breakout occurs, the currency exchange rate is likely to aim at the 200-hour simple moving average at 1.3283.
However, of the pair could reverse from current price level and break a junior ascending channel today.
