Currency pair Canadian Dollar to US Dollar USD/CAD continues to move within the rising channel. The pair broke through the support area and at the moment there is a potential for a fall to the lower channel boundary at 1.3575, from which it is expected to rebound and continue the pair’s growth.
USD/CAD forecast Canadian Dollar on May 16, 2017
In favor of the rebound is the test of the support area on the indicator of relative strength. The cancellation of the pair USD/CAD growth will be the fall and breakdown of the 1.3550 area, which will point to the potential test area of 1.3450.
Important news from Canada is not expected, so the pair Canadian Dollar to US Dollar will continue to move within the technical analysis of USD/CAD.
USD/CAD forecast Canadian Dollar on May 16, 2017 suggests an attempt to test the lower limit of the upward channel and continue growth to the area above the level of 1.3750, the cancellation will be breakdown at 1.3550 level.
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