The US Dollar surged by 128 basis points or 0.92% against the Canadian Dollar on Monday. The currency pair breached weekly pivot point at 1.4001 during Monday’s trading session.
Everything being equal, the exchange rate will most likely continue to surge within this session. The potential target for bullish traders would be at the weekly resistance level at 1.4094.
However, technical indicators suggest that the USD/CAD currency exchange rate could trade sideways during the following trading session
