The US Dollar surged by 89 pips or 0.67% against the Canadian Dollar on Friday. The currency pair tested the 1.3400 level during Friday’s trading session.
As for the near future, the USD/CAD exchange rate could continue to trend bullish. The possible targets for bulls would be near the upper line of a descending channel pattern at 1.3432.
On the other hand, the currency exchange rate could reverse from the current price level at 1.3370 and target the 50– and 100– hour SMAs support level within this session.