The US Dollar edged higher by 129 pips or 1.06% against the Canadian Dollar on Wednesday. The USD/CAD currency pair tested the 1.2280 during Wednesday’s trading session.
Technical indicators suggest buying signals on the 4H time-frame chart. Most likely, the exchange rate could continue to trend bullish during the following trading session.
However, bullish traders might encounter a resistance line at the 1.2300 area during Thursday’s trading session.
