The 50– hour simple moving average pressured the US Dollar higher against the Canadian Dollar on Wednesday. The currency pair has surged by 139 pips or 1.01% in value since Wednesday’s trading session.
As for the near future, the exchange rate could still make a slight upward movement. Technical indicators suggest bullish signals on both the smaller and the larger time-frame charts.
On the other hand, the currency exchange rate could slide lower towards the 100– hour simple moving average within this session.
