The US Dollar surged by 86 pips or 0.66% against the Canadian Dollar on Thursday. The currency pair breached the weekly pivot point at 1.3147 during yesterday’s trading session.
As for the near future, the exchange rate could continue to trend bullish. A breakout through the upper boundary of an ascending channel pattern might occur within this session.
However, technical indicators suggest that the currency exchange rate could edge lower during Friday’s trading session.
