The US Dollar surged by 56 basis points or 0.43% against the Canadian Dollar on Friday. The currency pair breached the 50-, 100– and 200– hour SMAs during Friday’s trading session.
All things being equal, the exchange rate could continue to edge higher during the following trading session. The possible target for the USD/CAD pair would be at the 1.3240 level.
However, a resistance level at 1.3207 could provide a barrier for bullish traders within this session.
