The currency pair Canadian dollar against the US dollar USD CAD showed a significant decrease and at the moment continues to move through dense dough rising channel’s lower border. There remains potential for a rebound in the pair quotes nearest resistance area at 1.3200.
USD CAD Forecast Canadian Dollar Forex January 26, 2017
In favor of a dense stands the test rising trendline on the Relative Strength Indicator. Cancellation option will drop and the breakdown of the rising channel’s lower border with the closing of USD/CAD quotes below the level 1.3050, which will point to a potential test area for a local minimum.
Important news from Canada tomorrow is not expected, so the pair will continue to move in the USD / CAD technical analysis.
USD CAD Forecast Canadian Dollar Forex January 26, 2017 suggests an attempt to rebound from the rising channel’s lower border and continued growth with the first target at the level of 1.32, the field sample points to continued growth in the level of 1.3380.
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