The US Dollar edged higher by 114 basis points or 0.92% against the Canadian Dollar on Friday. The USD/CAD currency pair tested the 1.2450 area during Friday’s trading session.
Technical indicators suggest buying signals on the 4H and daily time-frame charts. Most likely, buyers could continue to drive the price higher during the following trading session.
However, a resistance line at 1.2450 could still provide resistance for the currency exchange rate in the shorter term.
