USD/CAD moving along 50-hour SMA The US Dollar maintained a junior descending channel pattern against the Canadian Dollar on Monday. The currency pair gained about 59 base points during yesterday’s trading session.
The exchange rate was trading along the 50-hour simple moving average during the first half of Tuesday’s trading session.
The short-term target for the currency exchange rate will be near a resistance cluster formed by the weekly pivot point and the upper boundary of the junior descending channel pattern at 1.3153.
The pair could make a pull-back from the resistance cluster as mentioned above.
