The US Dollar edged higher by 75 pips or 0.61% against the Canadian Dollar during the first half of Tuesday’s trading session. However, the currency pair erased the early profits at the end of the day.
Technical indicators suggest selling signals on the 4H, daily and weekly time-frame charts. The exchange rate is likely to continue to edge lower during the following trading session.
However, a support level at 1.2270 could provide support for the USD/CAD currency exchange rate today.
