The US Dollar has risen by 98 points or 0.74% against the Canadian Dollar since Thursday’s trading session. The currency pair breached the lower boundary of a descending channel pattern at 1.3177 on Friday morning.
Given that the exchange rate has breached the lower boundary of the channel pattern, bearish traders could continue to pressure the USD/CAD pair lower during the following trading session.
However, the currency exchange rate could make a brief pullback towards the 1.3245 level within this session.
