The US Dollar traded between the range of 1.3426/1.3391 against the Canadian Dollar on Thursday. The 50– hour simple moving average provided support for the exchange rate yesterday.
As for the near future, the currency pair will likely edge higher in the ascending channel pattern. The USD/CAD pair could target the upper line of the channel pattern at 1.3492.
However, Friday’s macroeconomic data releases, scheduled at 12:30GMT could play an important role in the overall movement of the currency exchange rate within this session.
