The US Dollar soared by 59 pips or 0.49% against the Canadian Dollar on Friday. The surge was stopped by the 50– hour simple moving average during Friday’s trading session.
Technical indicators suggest selling signals on the 4H and weekly time-frame charts. Most likely, bearish traders could pressure the currency pair lower during the following trading session.
However, the currency exchange rate might make an upside reversal from an order block at 1.2040 within this session.
