USD/CAD
The US Dollar surged by 73 pips or 0.57% in value against the Canadian Dollar on Wednesday. The currency pair tested a resistance cluster formed by the monthly R1 and the weekly R3 at 1.3339 during yesterday's trading session.
As for the near future, the USD/CAD exchange rate could make a downside retracement from the resistance cluster, as mentioned earlier, during the following trading session. The potential target will be near at the 50– hour simple moving average at 1.3300.


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