The US Dollar has continued to gain strength against the Canadian Dollar in an ascending trendline. The currency pair appreciated about 48 base points during Monday’s trading session.
However, after testing a resistance level formed by the monthly pivot point at 1.3419 during the Asian session on Tuesday, the exchange rate made a U-turn south.
In regards to the near future, most likely, the US Dollar will continue to surge towards the 1.3445 area. It is expected that a decline could follow after the currency exchange rate reaches the given target.
