The US Dollar traded with low volatility against the Canadian Dollar on Tuesday. The currency pair moved just about 32 base points during yesterday’s trading session.
As for the near future, it is likely that the currency exchange rate will decline towards a support cluster formed by the combination of the weekly and the monthly pivot points against 1.3310.
If the support cluster as mentioned above holds, a potential upside reversal could follow during the following trading session.
Meanwhile, technical indicators demonstrate that the USD/CAD currency pair might trade sideways within this session.
