The US Dollar surged by 76 pips or 0.58% against the Canadian Dollar on Monday. The USD/CAD currency pair tested the 1.3220 level during yesterday’s trading session.
As for the near future, bullish traders are likely to stimulate the exchange rate higher. Bulls might target the monthly pivot point at 1.3243 during the following trading session.
However, if the currency exchange rate breaks the support level at 1.3175, a decline towards the weekly PP at 1.3135 could be expected within this session.
