The US Dollar appreciated about 97 base points against the Canadian Dollar on Tuesday. The weekly pivot point at 1.3194 provided support for the exchange rate during yesterday’s trading session.
Wednesday’s trading session began with the bullish sentiment. However, the currency pair might make a brief retracement towards a support cluster formed by the 50– and 100– hour SMAs at 1.3234 today.
On the contrary, the weekly R1 and the monthly R1 near the 1.3266 area could provide support for the currency exchange rate during the following trading session.
