The US Dollar regained its lost positions against the Canadian Dollar on Monday. The currency pair appreciated about 121 base points during the close of Monday’s trading session.
The exchange rate was consolidating below a strong resistance level formed by the monthly pivot point at 1.3419 during the first part of Tuesday’s trading session.
Technical indicators suggest that the bullish sentiment is likely to continue within this session.
The potential target for bullish traders will be at the upper boundary of an ascending channel pattern at 1.3462.
