The US Dollar surged by 91 points or 0.67% against the Canadian Dollar on Thursday. The currency pair breached the upper line of a descending channel pattern during yesterday’s trading session.
Everything being equal, the exchange rate could continue to edge higher within the following trading session. Bullish traders could target the 1.3650 area.
However, the currency exchange rate could reverse from the current price level at 1.3584 and aim at the 200– hour simple moving average at 1.3532 during the following trading session.
