The US Dollar has appreciated by 30 basis points against the Canadian Dollar since yesterday’s trading session. The currency pair was guided by the 50– and 200– hour simple moving averages.
Everything being equal, the exchange rate is likely to maintain the ascending channel pattern. Bullish traders might aim at the upper boundary of the channel pattern at 1.3352.
Although, the currency exchange rate will have to surpass the monthly resistance level at 1.3325 before reaching the given target.
