USD/CAD analysis: Bullish run likely to continue

Dukascopy Bank Team Dukascopy Bank SA

USD/CAD

The US Dollar has surged by 135 basis points or 0.97% against the Canadian Dollar since yesterday's trading session. The currency pair tested the upper boundary of a descending channel pattern at 1.4020 on Friday morning.

As for today's session, the USD/CAD exchange rate could continue to edge higher. The potential target for bullish traders would be near a psychological level at the 1.4150 area.

However, the weekly pivot point at 1.4048 could prevent bulls from driving the price higher within this session.

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Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

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