A resistance cluster, formed by the monthly R2 and the weekly R1 near the 1.3347 regions restricted the movement of the USD/CAD currency pair during yesterday’s trading session.
The US Dollar might edge lower towards a support cluster formed by the 200– hour simple moving average and the weekly pivot point at 1.3266 during the following trading session.
If the 200- hour SMA and the weekly PP hold, the currency exchange rate will likely continue its upward movement in the nearest future.
