The US Dollar surged by 143 basis points or 1.01% against the Canadian Dollar on Tuesday. The currency pair was pressured higher by the 50– hour simple moving average during this period.
Currently, the exchange rate is trading above the weekly R1 at 1.4168. Bullish traders could drive the price towards the psychological resistance level at 1.4300 within this session.
Furthermore, technical indicators flash buy signals on both the daily and the weekly time-frame chart.
