The US Dollar consolidated below the monthly pivot point at 1.3419 against the Canadian Dollar on Wednesday.
Technical indicators demonstrate that a strong bullish momentum is likely to come into play during the following trading session.
If this bullish sentiment occurs, the currency exchange rate will target the upper boundary of an ascending channel pattern at 1.3462.
However, it is expected that the USD/CAD currency pair edge lower towards a hidden base of 1.3318 today.
