The US Dollar depreciated about 48 base points against the Canadian Dollar on Tuesday. The decline was stopped by a support level formed by the weekly pivot point at 1.3136.
It is likely that the USD/CAD exchange rate could bounce off a support cluster formed by the weekly PP and the 200-hour simple moving average at 1.3136 within the following trading session.
However, the 50– and 100-hour SMAs at 1.3162 might provide resistance for the currency exchange rate during the following hours.
