The currency pair US Dollar to Canadian Dollar USD/CAD continues to move within a strong upward trend and at the moment the pair’s quotes are testing the 1.3764 area. It is worth trying to test the lower border of the ascending channel and continue growing into the ballet above the level of 1.3850. In favor of the growth of quotations of the Canadian Dollar pair, an uptrend line test will be performed on the indicator of relative strength. By canceling the variant, the growth of the pair will be a fall and breakdown of the area of 1.3700, which will indicate the continuation of the decline in the area below the level of 1.36.
USD/CAD Forecast Canadian Dollar on May 8, 2017
Among the important news from Canada, which can have a strong impact on the Canadian dollar rate, it is worth highlighting, The number of new foundation laying.
USD/CAD Forecast Canadian Dollar on May 8, 2017 suggests an attempt to continue the pair’s growth to the area above the level of 1.3850 within the rebound from the support line at the initiator of relative strength, the break will be a breakdown of the lower boundary of the rising channel.
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