The US Dollar traded sideways movement against the Canadian Dollar on Tuesday. The currency pair was supported by a support cluster formed by the 50– and 100-hour SMAs at 1.3460 during Tuesday’s trading session.
Everything being equal, it is likely that bulls could gather enough momentum to dash through a significant resistance level set by the weekly R1 at 1.3516 during the following trading session.
Furthermore, technical indicators flash buy signals on both the 4(H) and the daily time frames charts.
