The US Dollar continued its upside momentum against the Canadian Dollar on Thursday. The currency pair breached a resistance level formed by the weekly R1 at 1.3419 during the middle of yesterday's session.
Technical indicators suggest that the bullish momentum is likely to continue throughout Friday's session. The potential upside target will be at a cluster formed by the weekly R2 and the monthly R2 near the 1.3545 region.
However, it is important to note that the US and Canadian macroeconomic data releases schedule at 1:30 GMT could make technical indicators obsolete within this session.
Interested in USDCAD technicals? Check out the key levels
- R3 1.3518
- R2 1.3482
- R1 1.3426
- PP 1.3389
- S1 1.3334
- S2 1.3297
- S3 1.3242
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.