The currency pair Canadian dollar against the US dollar USD CAD continues to test the support area tightly. At this moment we should expect a rebound of quotations within the Canadian start rising pattern of 1: 1 in order to rise above the level of 1.36 and a potential target of growth above the 1.38 area. In favor of a bounce speaks Dough rising trend line on the indicator of relative strength.
Technical Analysis USD CAD and the forecast for December 2, 2016
Cancellation option will be a sharp drop in the area and sample 1.33, which points to a continuation of falling of pair USD CAD quotes. Once again, we try to buy the pair with the tight top and ready to increase the volume of purchases with the development of growth. Among the important news that could affect the Canadian dollar tomorrow, December 2, 2016 stands out, unemployment rate, it is expected that the rate will remain at 7.0%, as well as the change in the number of employed is expected a significant decline from a level to the level of 43.9K 0.1K, which can provoke serious pressure on the Canadian dollar against the US currency.
Technical Analysis USD CAD and the forecast for December 2, 2016 suggests an attempt to rebound from the lower boundary of the rising channel and attempt to increase to above the level of 1.36.
