USD/CAD

On Tuesday, the US Dollar surged by 84 pips or 0.66% against the Canadian Dollar. The currency pair breached the upper line of an ascending channel pattern at 1.2850 during Tuesday's trading session.

As for the near future, the exchange rate could continue to edge higher. A breakout through the upper boundary of the channel pattern could occur within Wednesday's trading session.

However, if the ascending channel pattern holds, sellers could pressure the currency exchange rate lower in the shorter term.

USDCAD

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This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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