The US Dollar depreciated about 71 base points against the Canadian Dollar on Tuesday. The currency pair broke a medium-term ascending channel pattern during Tuesday’s trading session.
Currently, the exchange rate is trading near a support level formed by the weekly S1 at 1.3182.
If the currency exchange rate passes the support level, bears could push the pair towards the 1.3153 region.
However, if the support level as mentioned earlier holds, a potential upside movement could be expected within this session.
