The US Dollar traded sideways against the Canadian Dollar on Wednesday. The currency pair made about 35 pips or 0.29% movement during yesterday’s trading session.
Technical indicators suggest buying signals on the 4H time-frame chart. Most likely, the exchange rate could breakout from the consolidation zone at the 1.2711/1.2688 levels within this session.
However, the weekly pivot point at 1.2711 could still provide resistance for the currency exchange rate today.
