The US Dollar appreciated about 88 base points against the Canadian Dollar on Friday. The currency pair tested the upper boundary of a junior ascending channel pattern at 1.3420 at the end of Friday’s trading session.
By and large, most likely, the USD/CAD exchange rate could lose some of its Friday’s gains during the following trading session. Bearish traders might target the weekly pivot point at 1.3360 today.
If the weekly PP and the 50-hour simple moving average support level holds, the currency exchange rate will continue its upside momentum during the following trading session.
