The US Dollar gained about 37 pips or 0.28% against the Canadian Dollar on Tuesday. The 50– and 100– hour SMAs provided support for the currency pair during Tuesday’s trading session.
Technical indicators flash buying signals on the 4-hour and daily time-frame chart. Most likely, the USD/CAD exchange rate could continue to edge higher during the following trading session.
However, a resistance level at the 1.3420 level could provide resistance for the currency exchange rate within this session.
