USDCAD Analysis: Likely to remain stable
|USDCAD
The US Dollar has maintained its upward tendency against the Canadian Dollar since June 14. Despite trading with low volatility, the Greenback has dashed through the weekly pivot point at 1.3280.
The exchange rate continues to trade in an ascending pattern. Nevertheless, it failed to reach the upper boundary.
From technical indicators point of view, some slight movement north should still be possible today until the 1.3374 mark, which Is the weekly pivot point is reached. Meanwhile, the 55-hour simple moving average is guiding the currency exchange rate up at this moment.
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