The US Dollar skyrocketed by 81 base points against the Canadian Dollar on Friday. The surge occurred after the US employment rate data release during Friday’s trading session.
However, after hitting the weekly R1 at 1.3137, the currency pair made a U-turn south.
By and large, it is likely that the USD/CAD exchange rate could make an upside movement today. The potential target will be at 1.3120.
Although, technical indicators suggest the currency exchange rate might continue its downward movement today.
