The US Dollar surged by 69 points or 0.52% against the Canadian Dollar on Friday. The currency pair was pressured up by the 100– hour simple moving average during Friday’s trading session.
Everything being equal, the exchange rate could continue to edge higher during the following trading session. A breakout through the upper boundary of an ascending channel pattern could occur.
However, if the channel pattern holds, a decline towards the weekly pivot point at 1.3324 could be expected within this session.
