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.
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.