The US Dollar appreciated about 75 basis points against the Canadian Dollar on Wednesday. The currency pair breached both the 50– and 100– hour SMAs at 1.3170 during Wednesday’s trading session.
Given that the exchange rate has dashed through 50– and 100-hour SMAs, bullish traders might aim for the 200-hour simple moving average at 1.3231 within this session.
However, technical indicators demonstrate that the USD/CAD currency exchange rate might edge lower during the following trading session.
