Upside risks dominated the US Dollar against the Canadian Dollar on Thursday. The USD/CAD currency pair edged higher by 141 pips or 1.14% during Thursday’s trading session.
The exchange rate is likely to continue to edge higher during the following trading session. The potential target for bullish traders will be near the weekly resistance level at 1.2628.
However, the 200– hour simple moving average at 1.2525 could provide resistance for the currency exchange rate within this session.
