The currency pair Canadian dollar against the US dollar USD CAD continues to move in line with expectations and is currently testing the lower tight ascending channel borders, as well as support for the region. We should expect a rebound attempt and movement in the area above the level of 1.3550.
USD CAD Forecast Canadian Dollar on January 4, 2017
In favor of a growth in the Canadian dollar quotations in favor tight test the support line on the indicator of relative strength. Cancellation option will drop in prices below the level 1.3300, which will point to a continuation of the downward trend. 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 on January 4, 2017 suggests an attempt to continue its growth in the rebound from the rising channel’s lower border with the potential upside target above the level of 1.3550, the cancellation will be the breakdown of the channel’s lower border.
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