Currency pair Canadian Dollar to US Dollar USD/CAD continues to move within the framework of the formation of an bullish forex 1:1. At the moment, the pair’s quotes are testing the area of the lower border of the rising channel, we should expect a rebound and an attempt to grow USD/CAD in the area above the level of 1.36.
Forex news: USD/CAD forecast on May 30, 2017
In favor of the growth of the pair is the formation of a reversal forex pattern «Head and Shoulders». Expect to accelerate the growth of the pair is with the breakdown of the upper boundary of the descending channel. The abolition of the growth option will be a fall and breakdown of the area of 1.3380, which will indicate a continued decline in the pair’s quotes.
Among the important news from Canada, which can have a strong impact on the Canadian Dollar, is the following: Balance of the current account of the balance of payments, it is expected to decrease from -10.7V to -11.4V, which may have a short-term pressure on the Canadian Dollar. The price index for raw materials.
Forex news: USD/CAD forecast on May 30, 2017 suggests an attempt to rebound from the lower border of the rising channel and continue the growth of the pair with the first target near the 1.36 area, the dropping of the growth variant will be the fall in the breakdown of the 1.3380 area.
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