The currency pair Canadian dollar against the US dollar USD CAD continues to move in line with expectations and currently quotes couples were able to show a rebound from the lower boundary of the rising channel on the daily chart of the pair, and even managed to break through the resistance area Forex reversal double bottom pattern.
USD CAD Forecast Canadian Dollar on January 20, 2017
Now we can expect a small correction to the pair at 1.3240 and continuing USD/CAD quotes growth in the area of the upper limit of forex triangle patterns on a level above the area of 1.3560, the breakdown of quotations point to continued growth in the region above the level of 1.38.
We continue to keep buying Canadian dollars and are prepared to try new positions on the development of an upward trend. Among the important news from Canada that may have an impact on the Canadian dollar stands out, the consumer price index, the main index of consumer prices from the Bank of Canada, the change in the volume of retail sales.
USD CAD Forecast Canadian Dollar on January 20, 2017 suggests an attempt to minor correction and the pair continued growth in the region above the level of 1.35.
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