The Greenback traded sideways movement against the Canadian Dollar on Tuesday. The USD/CAD currency pair was moving within the upper and the lower boundary of a horizontal channel.
The exchange rate was trading near the bottom border of the horizontal channel at 1.3248 during the middle of Wednesday’s trading session and could be set for a breakout.
Technical indicators demonstrate that there could be a downside breakout within this session.
However, a support level formed by the lower boundary of a medium-term ascending channel at 1.3240 could provide support for the pair.
