The US Dollar surged by 248 pips or 1.85% against the Canadian Dollar on Thursday. The USD/CAD currency pair breached the 1.3650 level during yesterday’s trading session.
Given that the exchange rate has reversed from the upper boundary of a descending channel pattern, a declined towards the weekly pivot point at 1.3537 could be expected within this session.
A potential upside reversal could occur from the weekly support level at 1.3537 during the following trading session.
