The US Dollar made a 27-pip movement against the Canadian Dollar on Tuesday. The currency pair tested the 50– and 100– hour SMAs at 1.3059 during Tuesday’s trading session.
As for the near future, if the support level formed by the 50– and 100– hour simple moving averages hold, bullish traders could drive the exchange rate towards the 1.3117 regions.
Although, the monthly pivot point at 1.3085 could prevent the currency exchange rate from edging higher during the following trading session.
