USD/CAD analysis: Reaches above 1.2500

Dukascopy Bank Team Dukascopy Bank SA

USD/CAD

The high volatility period of the USD/CAD currency exchange rate ended with a surge to the 1.2500 level, the zone that surrounds it, and the weekly R1 simple pivot point in the zone. On Thursday morning, the rate broke the resistance of the 1.2500 mark and reached the 1.2530 level.

The USD has been surging against all other currencies since the reveal of higher than forecast US monthly Consumer Price Index data.

In general, the surge is expected to continue. A continuation of the surge might find resistance in the 1.2550 mark and the weekly R2 simple pivot point at 1.2555, before aiming at the 1.2600 mark.

However, the rate could consolidate its gains by declining, A potential decline might look for support in the 1.2500 level and the technical levels that surround it.

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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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