The US Dollar surged by 54 basis points or 0.41% in value against the Canadian Dollar on Thursday. The currency pair breached the 200– hour simple moving average during yesterday’s trading session.
All things being equal, the exchange rate will most likely continue to edge higher during the following trading session. The potential target for USD/CAD pair will be at the 1.3300 area.
However, the weekly pivot point at 1.3271 could continue to provide resistance for the currency exchange rate within this session.
