Since Wednesday’s trading session, the US Dollar has surged by about 125 basis points against the Canadian Dollar. The currency pair breached both the 50-, 100– and 200– hour SMAs during on Wednesday.
Everything being equal, the USD/CAD exchange rate will most likely make a brief retracement down, towards a support cluster formed by the 50-, 100– and 200– hour SMAs at 1.3259 during the following trading session.
On the other hand, the currency exchange rate might continue its upside momentum within the following hours of trading.
