USD/CAD analysis: Potential target at 1.2640

Dukascopy Bank Team Dukascopy Bank SA

USD/CAD

Upside risks have dominated the USD/CAD currency pair since yesterday's trading session. The US Dollar has edged higher by 100 pips or 0.80% against the Canadian Dollar since Wednesday's session.

Buyers are likely to continue to pressure the exchange rate higher during the following trading session. The potential target for bullish traders will be near the 1.2640 area.

However, the currency exchange rate might make a brief pullback towards the 1.2587 level in the shorter term.

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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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