The currency pair Canadian dollar against the US dollar USD CAD continues the development of a downward correction, and at the moment there is a potential for a tight test the lower boundary of the rising channel at 1.3370 near the region where the new growth is expected to try to local maximum.
USD CAD Forecast Canadian Dollar on January 3, 2017
In favor of a continuation of growth of the Canadian dollar quotations in favor tight test the support line on the indicator of relative strength. Cancellation option quotes growth of the Canadian dollar will drop and the sample area 1.33, which points to the continued decline in the area below the level of 1.3150.
Among the important news from Canada that may have an impact on the Canadian dollar against the US dollar, we should mention, the PMI index for the manufacturing of the RBC.
USD CAD Forecast Canadian Dollar on January 3, 2017 suggests an attempt to increase in the rebound from the lower boundary of the rising channel with a potential target growth rate higher than the area of a local maximum.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link