The US Dollar surged by 51 pips or 0.40% against the Canadian Dollar on Tuesday. The USD/CAD currency pair breached the 1.2820 level during yesterday’s trading session.
As for the near future, the exchange rate could continue to edge lower. Bearish traders are likely to target the lower line of a descending channel pattern during the following trading session.
However, a support level at the 1.2750 level could provide support for the currency exchange rate today.
