The US Dollar traded between the range of 1.3298/1.3279 against the Canadian Dollar on Thursday. The currency pair tested the lower boundary of an ascending channel pattern at 13280 during the European trading session on Friday.
If the bottom border of the channel pattern holds, the exchange rate is likely to make an upward reversal within this session.
However, if the USD/CAD currency exchange rate breaks the ascending channel pattern, bearish traders could drag the price towards a swing low at the 1.3260 area today.
