The US Dollar versus the Canadian Dollar breached a resistance cluster formed by the weekly S1 and the 200– hour simple moving average at the 1.3217 regions during the morning hours of Friday's trading session.
From a theoretical point of views, the USD/CAD currency pair will most likely continue its upward swing today. The potential target for bullish traders would be near the monthly pivot point at 1.3277.
On the other hand, the currency exchange rate might make a U-turn from the current price level at 1.3222 and aim for a swing low at 1.3140 during the following trading session.
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.