USD/CAD analysis: Potential target at 1.3500

Dukascopy Bank Team Dukascopy Bank SA

USD/CAD

Upside risks dominated the US Dollar against the Canadian Dollar on Thursday. The USD/CAD currency pair edged higher by 120 pips or 0.90% during Thursday's trading session.

As for the near future, the exchange rate could continue to surge. Bullish traders are likely to target the upper boundary of a descending channel pattern at the 1.3500 level.

However, the weekly pivot point at 1.3455 could still provide resistance for the currency exchange rate today.

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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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