The US Dollar appreciated about 63 base points against the Canadian Dollar on Wednesday. The currency pair was guided up by the 50– and 100-hour simple moving averages during the previous trading session.
The exchange rate bounced off the lower boundary of a junior ascending channel pattern at 1.3405 during the European trading session on Thursday.
Most likely, the currency exchange rate could aim for a resistance line formed by the monthly pivot point at 1.3465 within this session.
Furthermore, technical indicators demonstrate that bulls will continue their dominance in the market today.
