Upside risks pressured the USD/CAD currency pair on Friday. As a result, the US Dollar edged higher by 128 pips or 1.01% against the Canadian Dollar during Friday’s trading session.
Everything being equal, the exchange rate could continue to edge higher. A breakout through the upper boundary of an ascending channel pattern could occur within this session.
However, if the channel pattern holds, the currency exchange rate could make a brief pullback towards the 1.2750 level during Monday’s trading session.
