The currency pair Canadian dollar against the US dollar USD CAD continues to move in the mining forex wave pattern Wolfe and Wedge model.
However, at the moment there is a potential to reduce the Canadian dollar quotations in the area below the level of 1.3070 in the rebound from the resistance line of the descending on the indicator of relative strength.
USD CAD Forecast Canadian Dollar on February 22, 2017
Cancellation option will be a strong growth and a break of resistance area with the closing quotation of the pair above 1.3230 area, which point to a continuation of an upward trend.
Among the important news from Canada that may have a strong influence on the Canadian dollar, we should mention, Retail Sales.
USD CAD Forecast Canadian Dollar on February 22, 2017 involves correcting an attempt to pair to the 1.3070 level within the dense test downward trend line on the indicator of relative strength.
