The US Dollar has surged by 158 points or 1.19% against the Canadian Dollar since Wednesday’s trading session. A breakout occurred through the upper boundary of a descending channel pattern on Thursday.
Given that a breakout had occurred, the USD/CAD currency pair would continue to surge within this session. The potential would be near the weekly pivot point at the 1.3537 area.
However, the 200– hour simple moving average at 1.3483 could provide resistance for the currency exchange rate during the following trading session.
