The Greenback versus the Canadian Dollar maintained a junior descending channel pattern during Tuesday’s trading session. The currency pair gained about 65 base points on Tuesday.
The exchange rate breached a support cluster formed by the weekly and monthly pivot points at 1.3312 during the European trading session on Wednesday.
Most likely, the short-term target for the currency exchange rate will be near the weekly S2 at 1.3272.
The USD/USD pair could make a pull-back up if the weekly support level as mentioned above holds.
