The currency pair US Dollar to Canadian Dollar USD/CAD continues to move within the framework of the downward correction development. At the moment, we should expect an attempt to fall into the lower border of the rising channel, where we can expect the pair USD/CAD to continue growing.
USD/CAD Forecast Canadian Dollar on May 9, 2017
In favor of the growth of quotations, a test of the uplink of support on the indicator of relative strength will perform. The cancellation of the Canadian Dollar growth variant against the US Dollar will break through the area of 1.3470, indicating that the pair will continue to decline to Forex.
Among important news from Canada, which may have a strong impact on the Canadian dollar rate, it is worth highlighting, The change in the volume of issued construction permits is expected to grow from -2.5% to 0.4%, which may support the Canadian Dollar.
USD/CAD Forecast Canadian Dollar on May 9, 2017 suggests an attempt at a developed correction to the lower boundary of the rising channel, from which one should expect the pair to continue growing above 1.3850, the breakdown of the region is 1.3470.
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