The US Dollar rose by 41 pips or 0.31% against the Canadian Dollar on Friday. The currency pair breached the 1.3200 level during Friday’s trading session.
As for the near future, the exchange rate could edge lower. A breakout through the lower boundary of an ascending channel pattern is likely to occur within the following trading session.
However, technical indicators flash buying signals on the 4H time-frame chart. Most likely, buyers could pressure the USD/CAD currency exchange rate higher towards the 1.3250 level today.
