USD/CAD analysis: Bulls likely to prevail

Dukascopy Bank Team Dukascopy Bank SA

USD/CAD

The US Dollar surged by 57 pips or 0.45% against the Canadian Dollar on Wednesday. The currency pair tested a resistance level at 1.2634 during yesterday's trading session.

All things being equal, the exchange rate could continue to edge higher during the following trading session. The potential target for the USD/CAD pair will be near the 1.2660 area.

However, the weekly resistance level at 1.2634 could still provide resistance for the currency exchange rate today.

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Dukascopy Bank Team

Dukascopy Bank SA

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