The US Dollar continued to range between the 1.3345/1.3296 region against the Canadian Dollar on Friday. The currency pair tested the 50– hour simple moving average during the morning hours of today’s trading session.
As for the near future, the USD/CAD exchange rate might aim at a support level formed by the 200– hour simple moving average at 1.3273.
If the support level holds, the currency exchange rate will most likely continue its upside movement within this session.
Furthermore, technical indicators suggest that bullish traders might continue their dominance in the market today.
