The US Dollar surged by 82 points or 0.60% against the Canadian Dollar on Tuesday. The currency pair tested the weekly pivot point, as predicted during yesterday’s trading session.
All things being equal, the USD/CAD exchange rate could slide lower within the following trading session. The potential target for bearish traders will be at the monthly pivot point at 1.3563.
Although, a possible upside reversal could occur from the 1..3580 within Wednesday’s trading session.