Bullish momentum has dominated the US Dollar versus the Canadian Dollar since Friday’s trading session. The currency pair has surged by 364 basis points or 2.71% in value during this short period.
Everything being equal, the exchange rate could make a brief downside retracement towards the support cluster formed by the 50– hour simple moving average and the weekly R1 at 1.3465.
However, technical indicators demonstrate that the currency exchange rate could continue to trade bullish within the following trading session.
