The US Dollar has been trading in a junior ascending channel pattern against the Canadian Dollar since the beginning of February. The currency pair breached the monthly pivot point at 1.3302 during yesterday’s session.
Given that the currency exchange rate has breached the monthly PP as mentioned above, bullish traders could push the pair towards a resistance level formed by the weekly R1 at 1.3378.
Meanwhile, technical indicators demonstrate that bulls will continue their dominance in the market within this session.
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