The US Dollar surged by 77 pips or 0.62% against the Canadian Dollar on Thursday. The currency pair breached the weekly resistance level at 1.2434 during yesterday’s trading session.
Everything being equal, the exchange rate could continue to trend higher within the following trading session. A potential breakout through the upper line of an ascending channel pattern could occur.
However, the USD/CAD currency exchange rate could find resistance at 1.2443 in the shorter term.
