Currency pair US Dollar to Canadian Dollar USD/CAD continues to move within the limits of the decline. The pair could not push off the bottom of the forex pattern «Wedge» and at the moment there is a potential for testing the lower boundary of the rising channel, from which one should expect a rebound and another attempt at growth.
USD CAD forecast & analysis on May 24, 2017
In favor of continuing the growth of quotations of the pair will breakdown the bearish trend line on the indicator of relative strength index (RSI). The cancellation of the option will be the fall of quotations below the level of 1.34, which will indicate that the pair’s quotations continue to decline.
Among the important news from Canada, which can have a strong impact on the Canadian dollar, is the following: Bank of Canada on the basic interest rate.
USD CAD forecast & analysis on May 24, 2017 suggests an attempt to test the lower boundary of the rising channel, from which the rebound and growth of the pair should be expected, the breakdown of the region 1.34 will be a cancellation.
