The USD/CAD currency pair bounced off a support level at 1.2487 during Thursday’s trading session. As a result, the US Dollar surged by 75 pips or 0.60% against the Canadian Dollar on Thursday.
All things being equal, the currency exchange rate is likely to continue to edge higher during the following trading session. The possible target for bullish traders will be near the 1.2600 level.
However, a resistance cluster at 1.2559 could still provide a barrier for buyers during the following trading session.
