The US Dollar ended Wednesday’s trading session with 92 points gains against the Canadian Dollar. The surge occurred after the US Federal Reserve hiked interest rates during the end of yesterday’s session.
However, a resistance level formed by the weekly pivot point at 1.3500 has prevented the currency pair from gaining further points for the second consecutive trading session.
After hitting the resistance line during the second part of today’s session the exchange rate began to decline.
Most likely, the currency exchange rate will aim at a support level set by the 100-hour SMA at 1.3425 within this session.
