The US Dollar depreciated about 39 basis points against the Canadian Dollar on Thursday. However, the exchange rate regained some of its lost positions during the first part of Friday’s trading session.
Bullish sentiment might continue to dominate the currency pair today. Technical indicators demonstrate that the currency exchange rate might target the 1.3340 area within this session.
On the contrary, the USD/CAD pair might reverse from the current price level at 1.3308 and aim for the monthly pivot point at 1.3264 during the following trading session.
