The currency pair US Dollar to Canadian dollar USD/CAD continues to test the support area at 1.3335. At the moment, there is the potential for the pair to continue to grow in the area above 1.3450. In favor of a rebound attempt is a breakdown of the downward trend line on the indicator of relative strength, as well as a tight test of the lower boundary of the rising channel.
Technical analysis and Forecast USD/CAD on April 12, 2017
The cancellation of the growth of USD/CAD quotations will be the fall and breakdown of the area of 1.2980, which will indicate the continuation of the pair’s decline.
Among the important news from Canada, which can have a strong impact on the Canadian dollar, is the publication of the Bank of Canada’s Monetary Policy Report, the Bank of Canada’s Key Interest Rate Decision, the Bank of Canada Cover Statement.
Technical analysis and Forecast USD/CAD on April 12, 2017 suggests an attempt at growth within the rebound from the bottom of the uplink with a potential target near the area of 1.3450, the cancellation will be the fall and breakdown of the area of 1.2980.
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