Upside risks prevailed in the market on Friday, thus sending the US Dollar to appreciate by about 177 base points against the Canadian Dollar. The currency pair breached some significant resistance levels during Friday’s trading session.
Most likely, it is expected that bearish traders push the price downwards within this session. The potential downside target will be near the weekly pivot point at the 1.3240 area.
If the weekly PP holds, the Greenback will continue to gain strength against the Loonie during the following trading session.
