The currency pair Canadian dollar against the US dollar USD CAD continues to move in the development of bullish trend. At the moment, there is the potential to test the support and continued growth of quotations in the area above the level of 1.3550. Cancellation option will drop in the Canadian dollar quotations below the level of 1.33, which indicates a return channel inside quotations and trigger an attempt to continue the reduction.
USD CAD Forecast Canadian dollar on December 26, 2016
In favor of a continuation of USD/CAD quotes growth is the formation of an inverted forex head and shoulders pattern on the indicator of relative strength.
USD CAD Forecast Canadian dollar on December 26, 2016 suggests an attempt to continue its growth within the mining forex reversal patterns with the potential upside target above the level of 1.3550.
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