The 50– hour simple moving average guided the US Dollar against the Canadian Dollar on Thursday. The currency pair made about 74 pips move during Thursday’s trading session.
Technical indicators demonstrate that the USD/CAD exchange rate could continue to trend in an ascending channel pattern during the following trading session.
However, if the currency exchange rate breaks the 50– hour SMA support level at 1.3302, a decline towards the support cluster near the 1.3200 could be expected within the following trading session.
