The pair Canadian Dollar to US Dollar USD/CAD closes the trading week near the level of 1.2872. The pair continues to move within the framework of the upward correction. At the moment, we should expect an attempt to grow into the area above the level of 1.30 within the framework of the formation of the bearish model «5-0».
USD/CAD forecast on October 30 — November 3, 2017
Near the level of the upper boundary of the channel, we again expect a rebound and an attempt to drop them at the level of 1.25. In favor of the fall of the pair is the resistance line test on the relative strength indicator (RSI). The cancellation of the USD/CAD fall in the current trading week will be a strong growth and breakdown of the 1.32 area, which will indicate the continued growth of the Canadian Dollar.
Among the important news from Canada, which may have an impact on the Canadian Dollar rate, it is worth highlighting: Unemployment rate, Change in the number of employed.
USD/CAD forecast on October 30 — November 3, 2017 involves trying to test the level of the upper border of the channel near 1.30 and continuing the fall below 1.25, an additional signal in favor of the decline is the resistance line test on the relative strength indicator (RSI).