The currency pair Canadian dollar against the US dollar USD CAD is still stuck in the resistance area and now has the potential to start falling in the rebound from the upper border of the descending pattern 5-0.
USD CAD Forecast Canadian dollar on September 2, 2016
The purpose of the fall is the lower boundary of the rising channel, which points to continued USD CAD growth of quotations in the area above the level of 1.32. An additional signal in favor of the fall is the formation of topping models forex head and shoulders on the indicator of relative strength, which also points to the drop.
USD CAD Forecast Canadian dollar on September 2, 2016 assumes fall in the rebound attempt from the top of the bearish pattern 5-0.
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