Upside risks dominated the US Dollar against the Canadian Dollar on Wednesday. The currency pair tested the weekly resistance level at 1.2132 during yesterday’s trading session.
Everything being equal, the exchange rate is likely to continue to trend bullish during the following trading session. The possible target for buyers will be near the 1.2160 area.
However, the currency exchange rate could make a brief retracement towards the 1,2091 level in this session.
