The US Dollar has appreciated by 55 basis points against the Canadian Dollar since yesterday’s trading session. The currency pair breached the weekly R1 at 1.3195 on Thursday morning.
Everything being equal, the USD/CAD exchange rate will likely continue to trade bullish. A breakout through the upper boundary of an ascending channel pattern could occur.
Furthermore, technical indicators demonstrate that bulls are in control of the currency exchange rate and would continue to dominate the market today.
