HomeContributorsTechnical AnalysisUSD/CAD Could Continue To Surge

USD/CAD Could Continue To Surge

On Monday, the US Dollar edged higher by 119 pips or 0.93% against the Canadian Dollar. The currency pair tested the upper boundary of an ascending channel pattern at 1.2850 during Monday’s trading session.

By and large, the exchange rate could continue to trend higher during the following trading session. The potential target for the USD/CAD pair will be near the 1.2920 level.

However, if the currency exchange rate breaks the support level at 1.2768, sellers may pressure the price lower today.

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Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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