The US Dollar appreciated about 77 basis points against the Canadian Dollar on Friday. The currency pair breached the monthly pivot point at 1.3277 during Friday’s trading session.
Everything being equal, the USD/CAD exchange rate will likely maintain the one-week ascending channel pattern within this session. Bullish traders could aim for the weekly R1 at 1.3337 today.
However, it is unlikely that the currency exchange rate would surpass the monthly pivot point at 1.3277 with the following trading session.