The currency pair US Dollar to Canadian Dollar USD/CAD continues to move within the lateral trend. At the moment, there is a high potential for rebounding the pair and continuing growth with the breakdown of the resistance area. In favor of strong growth of quotations of the Canadian dollar is the formation of the reversal forex models of the Head and shoulders.
Technical analysis & USD/CAD forecast on April 3, 2017
Cancellation of the growth option will be a fall and breakdown of the area of 1.3280, which will indicate the continued decline in the pair USD/CAD. Expect to accelerate growth is with the breakdown of the area of 1.3440.
Among the important news from Canada, which can have a strong impact on the Canadian dollar, it is worth highlighting the PMI index for production (adjusted for seasonality) from RBC, the indicator of expectations in the sphere of credit and financial institutions, according to the Bank of Canada.
Technical analysis & USD/CAD forecast on April 3, 2017 involves an attempt to grow the pair as part of the development of the reversal forex model of the Head and Shoulders.
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