The US Dollar surged by 66 basis points or 0.50% against the Canadian Dollar on Thursday. The currency pair breached the 50– hour simple moving average at 1.3200 during yesterday’s trading session.
All things being equal, the exchange rate could continue to edge higher during the following trading session. The potential target for bulls would be near the weekly R2 at 1.3240.
However, technical indicators suggest that the currency exchange rate is likely to continue this week decline within the following trading session.
